Squares Developments has officially launched its third and latest real estate project, Sage Lakes Residence, in the R8 district of Egypt's New Administrative Capital (NAC), with total investments reaching EGP 15 bn. During a press conference, Talaat Gorgous, Chairperson of Squares Developments, emphasized the strategic significance of the NAC, noting that its modern infrastructure, advanced urban planning, and continued government backing have positioned it as a key destination for major companies and committed real estate developers. "Sage Lakes Residence is part of our ambitious expansion strategy," Gorgous stated, adding that the company is also preparing to launch a new project on the North Coast. Haron Abd Elghany, Chief Commercial Officer (CCO) at Squares Developments, said that Sage Lakes Residence offers a diverse range of residential units — from studios and duplexes to spacious villas — with unit sizes of up to 258 square meters. The development will also feature a commercial zone that includes administrative offices, medical clinics, a pharmacy, and a full suite of family-oriented services, providing comprehensive amenities within one integrated compound. The first phase of Sage Lakes Residence is being introduced with a starting down payment of just 2.5%, and installment plans extending over 10 years, according to Abd Elghany. He also revealed that the company aims to grow its total investment portfolio to EGP 22 bn in the near term, leveraging its strong financial position and the favorable investment climate in Egypt. Hany Gorgous, ViceChairperson of Squares Developments, highlighted that the project spans approximately 33 feddans in a prime location within R8 of the NAC. He noted that the company is collaborating with leading firms including Hafez Consultants and the International Project Management Company to ensure the highest standards in planning and execution. Mina Maher, Board Member at Squares Developments, described Sage Lakes Residence as a fully integrated residential and commercial community, designed to deliver a premium lifestyle experience for clients. The company is targeting EGP 5 bn in sales from the first phase alone. "We are offering a unique destination that combines all key elements in one location," Maher said. "Construction is set to begin in the first quarter of next year, with timely delivery and execution remaining central to our market leadership strategy." Mohamed Hafez,Chairperson of Hafez Consultants, emphasized the firm's focus on architectural design that merges functionality and aesthetics. He said the goal is to create a signature identity for the project while maximizing space efficiency and delivering an exceptional urban experience. "Our collaboration with Squares Developments aims to introduce an innovative, globally aligned concept that reflects the best of both partners' expertise," Hafez added. Tarek Fahmy, General Manager of the International Project Management Company, underscored the strategic nature of the partnership, noting that his firm will oversee the project's execution, management, and operations. "We are committed to delivering a fully integrated development built to world-class standards," Fahmy said. "This project will not only enhance Egypt's real estate landscape but also reinforce the track record of all involved partners."
