Squares Developments introduces Sage Lakes Residence in New Capital’s R8 district. Squares Developments unveils Sage Lakes Residence, targeting to expand its investment portfolio to EGP 22bn.
In a move that reaffirms its confidence in Egypt’s real estate market, Squares Developments announced the launch of its third project, Sage Lakes Residence. The total investments amount to EGP 15bn. The new development aligns with the company’s expansion strategy to diversify its investment portfolio and broaden its customer base.
Eng. Talaat Gorgous, Chairman of Squares Developments, stated that the New Administrative Capital has proven its ability to attract major companies and investors. This success is driven by robust infrastructure, advanced urban planning, and continuous government support. As a result, the New Capital has become a prime investment destination for committed developers.
During the company’s press conference, Gorgous said the new project marks a major milestone for Squares Developments. It is distinguished by its strategic location, innovative architectural design, and collaboration with strong success partners. The project strengthens the company’s position as one of the leading developers known for customer satisfaction and a strong history of outstanding real estate projects.
He added, “The Sage Lakes Residence project forms part of our ambitious expansion strategy. We are implementing it by leveraging our extensive experience, strong financial position, and strategic partnerships.” He confirmed that the next project will be launched in the North Coast to ensure greater diversification of the company’s investment portfolio.
Haron Abd Elghany, Chief Commercial Officer (CCO) at Squares Developments, said the project features a diverse range of units. These range from studios to duplexes and villas, with areas up to 258 sqm. The project includes a dedicated villas zone centered around large artificial lakes, as well as a mosque and a church. This reflects the spirit of community cohesion and national unity promoted by the Egyptian state.
He added that the compound includes a commercial section with administrative offices, medical clinics, a pharmacy, and essential family services. Amenities include a large parking area, a rooftop clubhouse in each building, jacuzzis, saunas, and two additional clubhouses. These features ensure the highest standards of luxury and quality living. The company aims to cater to two generations of target customers.
Abd Elghany noted that the first phase is being launched with a down payment starting at 2.5%. The remaining balance is payable over 10 years. This plan balances client satisfaction and the company’s interests. He explained that the commercial team conducted extensive market research to design flexible payment options for target customers.
The company aims to expand its investment portfolio to EGP 22bn. This relies on its strong track record, solid financial position, and the attractive investment climate in Egypt. Amid market competition, clients now choose based on developers’ credibility, delivery, and quality — values that define Squares Developments.
Eng. Hany Gorgous, Vice Chairman of Squares Developments, said the compound spans 33 acres in the R8 area. It is located in front of a large service zone and near a sports club and university. The company is collaborating with major entities, including Hafez Consultants and the International Project Management Company.
He noted that choosing highly experienced partners reflects the company’s commitment to delivering an integrated real estate product. The project meets modern sustainability standards and ensures the best investment value for clients. The development reflects the company’s meticulous attention to design and execution. It lives up to its distinguished name, rich legacy, and the solid track record of its founders.
Eng. Mina Maher, Board Member of Squares Developments, said the project is a fully integrated residential and urban development. It includes a commercial component and a wide range of premium services. The company targets EGP 5bn in sales from the first phase. Maher noted that construction will begin in the first quarter of next year. Execution, delivery, and commitment remain fundamental pillars of the company’s strategy.
Eng. Mohamed Hafez, Chairman of Hafez Consultants, said the firm is delivering designs that blend aesthetic excellence with functional efficiency. This approach maximizes space and gives the project a distinctive identity in the New Administrative Capital. He added that the collaboration aims to introduce an innovative concept that ensures a refined urban experience aligned with global standards.
Tarek Fahmy, General Manager of the International Project Management Company, said the partnership reflects a strategic collaboration. It aims to deliver a fully integrated project built to the highest standards of construction, management, and operation. His company will oversee project management and operations to ensure real value for Egypt’s real estate market.
