Sky Abu Dhabi Developments (Sky AD Developments), the subsidiary of Diamond Group and one of the leading Emirati real estate developers, achieved a record of LE1 billion sales through 600 sold residential units in its first flagship project “Residence Eight” in the New Administrative Capital.
The Emirati company, which kicked off its operations in the Egyptian market last February, has accomplished significant milestones in a record time starting with the development of a fully-integrated investment plan of LE15 billion over the period of two years, moving on to the implementation of its first project over 23 acres in the New Administrative Capital.
Eng. Abdelrahman Agami, CEO of Diamond Group and Sky Abu Dhabi Developments expressed his pride of Sky Abu Dhabi’s significant contribution to the Egyptian real estate market, owing to the company’s rich experience in the implementation of successful mega projects in the United Arab of Emirates in addition to the remarkable success achieved by “Residence Eight” in offering an innovative real estate product that serves as a model for integrated projects with unparalleled experience compared to other market players as well as starting construction works during the company’s ground breaking ceremony last March.
Residence Eight is located in a prime location in the New Administrative Capital in the R8 area, which is surrounded by the Diplomatic Quarter from the west and overlooking 70 acres of green areas from the north, as well as the Green River near the downtown from the south. It also includes one thousand units ranging from 80-360 square meters, some of which are apartments and some are luxury “duplexes”.
