Concept Real Estate to launch third phase of Siela North Coast in H2-2018

Egypt’s Concept Real Estate Group plans to launch the third and final phase of its flagship Siela in North Coast within the second half of 2018, said chairman Ehab Abou El Magd on Tuesday.

“The company expects to complete marketing the third phase within one year,” Abou El Magd further told Amwal Al Ghad, adding that Seila’s cost has so far increased to 600 million Egyptian pounds ($34.1 million).

The Egyptian official referred that Seila, which is established over 10 feddans, will include around 500 units and 650 chalets as well as a number of services facilities that are currently being developed in 3 phases.

“The second phase will be completely marketed within the first phase of this year,” Abou El Magd noted.