Property developer PACT to invest 220 mln pounds in White Bay this year

Egypt’s PACT Real Estate Group says it targets pumping investments worth 220 million Egyptian pounds ($12.1 million) into its flagship White Bay North Coast within 2017.

With total investments amounting to 330 million pounds, White Bay is located in Sidi Heneish, North Coast, on a space of 80 feddans. The flagship is being implemented on four phases within seven years.

The Egyptian property developer company also plans to conclude the concrete works in White Bay’s first phase in June.

Mohamed Gamal, chairman of PACT, told Amwal Al Ghad Sunday that his company targets delivering the first phase in 2018.

The project’s all phases will be delivered in 2021.

Gamal further added that PACT has so far promoted 250 units out of the project’s total units.

“We also seek to market 25 percent out of our total units outside the country,” he noted.