Minka Development, a Sallam family-owned venture, intends to deliver its Kensington project in New Cairo this year, according to the company’s founder and CEO Abdallah Sallam.
Built as a complex of stacked townhouses, the Kensington project offers five exclusive units, replicating the English living experience with private backyards and rooftops. The project is located in the West Gold Extension neighbourhood of New Cairo.
Sallam told Daily News Egypt that the company will deliver THE HOFT project between the end of 2022 and the beginning of 2023. THE HOFT is a mixed-use project comprising of commercial, residential, and administrative units spread over six floors, with a total built-up area of around 15,000 sqm.
The company is currently working on putting the finishing touches to its latest project covering 27 feddan in East Cairo, he noted, adding that it is expected the project will be launched in the coming two months.
Minka Development is also behind an innovative serviced-apartment project, entitled “Cairoom”. The project offers a network of fully furnished and serviced apartments of different sizes located in different real estate developments across Egypt, he said.
Accordingly, Minka Development intends to launch a new series of serviced apartments located in different developments in New Cairo. Of these, five are located in Cairo Festival City, one apartment is located in Emaar’s Mavida development, one in New Cairo’s West Gold Extension neighbourhood, one in the Choueifat district in the Fifth Settlement.
Sallam added that, despite the novel coronavirus (COVID-19) pandemic, there remains demand for these types of serviced apartments.
Moreover, the company plans to expand in the West Cairo and coastal areas in the forthcoming few years, Sallam disclosed. He also revealed that investments of over EGP 6bn, that will extend over the next four years, have been pumped into the company’s current projects that are under development investments.