Tatweer Misr invests 2.5 bln pounds in IL Monte Galala and Fouka Bay

Egypt-based property developer Tatweer Misr has  invested a total of 2.5 billion Egyptian pounds ($139 million_ in its two flagships IL Monte Galala and Fouka Bay  since their inception, its managing director Ahmed Shalaby said.

He added during a press conference that his company has achieved contractual sales of 7 billion pounds so far.

Shalaby noted that a total value of 4.5 billion pounds has been scoured during the current year which is reflecting the success achieved by the company during the two years of its presence in the local  market.

Tatweer Misr seeks pump investments of 3 billion Egyptian pounds in the two projects during the upcoming year, divided by 2 billion pounds to IL Monte Galala and one billion pounds to Fouka Bay, Shalaby added.