Sun Capital Egypt, a residential and commercial project, has begun construction on its sixth district, called Sun Capital 6, with an investment of EGP 2bn ($127m). Located in 6th of October City, the new district will feature residential and commercial units spread over 48.5 acres, with plans for 800 residential units and 50 shops. The project has a total investment of EGP 7.5bn ($475m). Sun Capital’s sixth district will also feature a sports club, a social club, green spaces, and other amenities.
Sun Capital 6 will also be equipped with smart technology, including a mobile application for residents to access services and manage their accounts, as well as integrated security and safety features. The project’s design will feature eco-friendly buildings, with energy-efficient lighting and water-saving systems.
Sun Capital is developed by Arabia Holding, which focuses on delivering integrated sustainable communities. Founded in 1991, the company has developed several projects in Egypt, including Porto Pyramids, Shalya, and Lake View. The Sun Capital project is expected to provide more than 50,000 job opportunities through the construction process and subsequent operations.
Sun Capital 6 is the latest addition to Egypt’s booming real estate sector, which has seen several new projects announced in recent months as developers seek to meet demand for both residential and commercial properties. The country’s property market has been boosted by the government’s ongoing economic reform and its commitment to promoting foreign investment. Real estate is a significant contributor to Egypt’s economy, accounting for around 20% of the country’s GDP.
As Egypt’s economy steadily recovers from the impact of the Covid-19 pandemic and continues to implement structural reforms, the country’s property market is expected to remain a key driver of growth. With the ongoing development of new projects, including the Sun Capital project, the sector is poised for continued expansion, creating new opportunities for investors and developers alike.