With Investments Exceeding EGP 4.8 Billion

“Sakn Real Estate Development” Announces the Full Sale of Phase One of Park U Mall in El Shorouk City, and Prepares to Launch Phase Two with New Specifications

Sakn Real Estate Development, one of Egypt’s leading real estate companies, has officially announced the complete sale of all units in Phase One of its flagship commercial and administrative project, Park U Mall, located in El Shorouk City. The announcement follows strong demand from investors and individual buyers, underscoring the growing confidence in Sakn’s brand and its expanding development strategy across East Cairo.

The company also revealed its plans to launch Phase Two of the project in the coming period, with total investments estimated at EGP 4.8 billion, covering a land area of 15,000 square meters — positioning Park U Mall as one of the largest and most significant mixed-use developments in El Shorouk City.

Strategically located on Al Horreya Axis, in the heart of El Shorouk, the project enjoys a prime location that connects the city directly to the New Administrative Capital, serving a wide segment of residents and visitors. Park U Mall represents a key milestone in Sakn’s long-term plan to develop integrated commercial and administrative destinations that enhance urban life in Egypt’s new cities and foster a sustainable investment environment.

Eng. Walid Khattab, Chief Executive Officer of Sakn Real Estate Development, emphasized that the strong demand for units in the first phase reflects the market’s trust in the Sakn brand and its proven track record in delivering high-quality developments.

“The successful completion of Phase One of Park U Mall marks a significant milestone in our growth journey and reflects the deep confidence we have earned from both clients and investors,” Khattab said. “From the outset, our goal was to deliver sophisticated architectural designs and fully integrated services that align with modern market needs, ensuring a unique and rewarding experience for all stakeholders.”

He added that Phase Two will feature a diverse mix of commercial, administrative, and medical units, designed with contemporary architecture that maximizes space efficiency. Flexible payment plans of up to eight years will also be available to meet the needs of various investor segments. Khattab noted that the company aims to commence full operations by 2029, upon completion of all construction and operational phases.

“We believe that real estate development today goes far beyond construction — it is a comprehensive industry that combines smart design, efficient management, and environmental and economic sustainability,” Khattab added. “Through our projects, we aim to create a refined development model that embodies the spirit of modern Egypt and meets the aspirations of the new generation of clients and investors.”

Mr. Ahmed Taher, Chief Commercial Officer at Sakn Real Estate Development, stated that Park U Mall represents a quantum leap for commercial developments in El Shorouk, being the city’s first fully integrated mega mall, designed by the renowned engineering consultant Moharram Bakhoum, one of the region’s most distinguished architectural firms known for major landmark projects across Egypt and the Middle East.

Taher added that the operation and management of the mall will be handled by KAD, a leading company specialized in managing large-scale retail centers. This partnership aims to ensure a world-class operational experience, covering day-to-day management, marketing, and space allocation strategies that promote long-term operational sustainability and investment value.

He also highlighted that the project was designed to be a model of modern urban development in East Cairo, featuring fully integrated entertainment areas, landscaped walkways, international restaurants and cafés, and open spaces that enhance the visitor experience and position Park U Mall as a premier destination for shopping and leisure in El Shorouk and its surrounding areas.

With its various development phases, Park U Mall stands as one of Sakn Real Estate Development’s flagship projects in East Cairo, expected to deliver strong investment returns thanks to its strategic location, modern design, and comprehensive facilities that set it apart as a unique commercial, administrative, and medical hub in El Shorouk City.

The company reaffirmed its commitment to expanding its investment portfolio across Egypt’s new urban centers and the New Administrative Capital, with a focus on developing high-value projects that contribute to the national economy and strengthen investor confidence in the Egyptian real estate market.