Egypt-based Al Ahly for Real Estate Development aims to deliver Amwaj North Coast project with investments totalling 3.5 billion Egyptian pounds (US$447 million) next July, its chairman Hussein Sabbour said Saturday.
Sabbour added that the company has completed 70 percent of the project’s third and fourth phases so as to deliver the fully finished units next summer.
The third and fourth phases of the project are established on an area of 144 feddans. In addition, Al Ahly is currently opening the project for reservation.
Amwaj is one of the newest developments coming up on the North Coast, Sidi Abd El Rahman area, it includes 800 residential units. The project is carried out on area of 200 feddans; the first phase has been delivered last year with total investments worth 2 billion pounds.
Al Ahly Real Estate Development Company engages in the development and management of commercial, residential, office space, recreational, and touristic projects in Egypt. It also develops and sells villas, twin houses, apartments, and chalets for second home projects. Al Ahly Real Estate Development Company has a strategic partnership with Dar Al-Ma’ali. The company was founded in 1994.