Egypt’s Architecture and Planning Group (APG) is advising on a new project in North Coast, with initial investments worth 500 million Egyptian pounds ($27.8 million), its branch manager said on Wednesday.
The residential, touristic, and hotel project, which is owned by a bunch of UAE and Egyptian investors, is being implemented over 75 feddans in three phases within a five-year timeframe, Mohamed Hassan told Amwal Al Ghad.
“The project will include 400 various housing units and a hotel, with a capacity of 400 rooms,” Hassan said, expecting that APG will obtain the ministerial approval on the project within the fourth quarter of the current year.
APG is responsible for designing and supervising another project in Mokattam district, named Lotus Ahram in favour of the state-run Al-Ahram Institution, he added.
Lotus Ahram encompasses administrative and residential buildings on a space of 12,000 square metres.
The project includes around 300 housing and other commercial units on a space of 5,000 square metres as well as 3,250-square metre administrative spaces, , Hassan said.