Egypt’s Ethmar for Investment finalises Ethmar Compound in New Damietta

Egypt’s Ethmar for Investment and Tourism Development says it has completed its residential flagship Ethmar Compound in New Damietta City, with investments worth 500 million Egyptian pounds ($28.3 million).

Founded by Cabinet’s decree No.546/1980, New Damietta City is located along the Mediterranean Sea and it is 4.5km (2.8 miles) far from New Damietta Port.

Ethmar Compound is executed on a space of 22 feddans, said the company’s chairman Yousef Mekled on Thursday, adding that the project includes 165,000 various units as well as a commercial centre over 6,000 square metres.

“The company targets expansions in the cities of New Mansoura, 128km (79.5 miles) north of Cairo in the Nile Delta,” Meklad further referred.