Egypt’s Al Ahly for Real Estate Development says it plans to deliver the fourth and final phase of Amwaj Compound project in Sidi Abd El Rahman Bay area in North Coast within July 2019.
The company is set to hand over the units of the fourth phase in two rounds, Al Ahly’s chairman Hussein Sabbour said Sunday, adding that that the first round will be delivered at the end of 2018.
“Amwaj touristic flagship includes developing three land plots,” Sabbour noted.
The project’s first and second phases are established on a total space of 200 faddans and 1,363 units, varying between villas and chalets, the Egyptian official further stated, referring that Al Ahly has sold the units of two phases.
As for the third phase, it is executed over 80 feddans and encompasses 632 units,” he said, elaborating that Al Ahly has handed over its units.
Sabbour confirmed that his company is currently completing the construction works of the fourth phase, which is consisting of 654 units over 80 feddans.
“The project’s total investments amount to about four billion Egyptian pounds ($223.9 million),” he concluded.