Empire State targets EGP5.6bn Upmount sales in New Capital

Empire State Developments is targeting about EGP 5.5bn–5.6bn in sales from Upmount, its residential project in the New Capital, while prioritising construction progress and cash-flow discipline. Chairperson Mostafa Mohsen outlined the strategy in an interview published by Daily News Egypt on July 12.

Upmount launched in January 2026 and is planned to include about 1,100 units, with deliveries scheduled to start in 2030. The project uses a loft-inspired design with double-height living spaces of up to six metres. Loft apartments account for roughly 70% of the planned mix, while conventional apartments make up the remainder. Unit sizes range from about 84 to 230 square metres, across one- to four-bedroom layouts.

Mohsen said the first sales phase, about 30% of the project, was largely sold, while later phases are expected to include serviced apartments. The company’s mixed-use El Centro project in Downtown New Capital has recorded EGP 1.5bn in contracted sales, surpassed 50% construction and sold about 97% of its units, according to the interview.

The company said it has used internal resources and its contracting affiliate to keep work moving during exchange-rate and construction-cost pressure. That approach is intended to protect execution, but it does not remove delivery or market risk.

For buyers, the project’s stated delivery year and unit mix provide a basic planning reference, but buyers should confirm current availability, price, payment schedule, contract entity and construction milestones directly with the developer. The sales target is management guidance rather than a guarantee, and future phases or serviced apartments remain subject to formal releases.

Source publication date: July 12, 2026. This article treats company targets and interview statements as disclosed plans, not guaranteed outcomes.