ICEC

Al Ahly Real Estate to execute Gaia North Coast project next year

Egypt’s Al Ahly for Real Estate Development is planning to start implementing its residential and touristic flagship Gaia in North Coast by early 2019, managing director Ahmed Sabbour said on Thursday.

Gaia is spanning over 265 feddans with investments worth five billion Egyptian pounds ($278.5 million), Sabbour told Amwal Al Ghad, adding that it will include 3,500 various housing units.

“We have successfully marketed 50 percent of the project’s first phase,” he said.

Al Ahly is negotiating with a real estate company to participate in developing its new project in Delta region, Sabbour said.

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