EGP 200 mln Residential City in North Sinai

After the presidential elections, North Sinai governorate will get ready for constructing the first residential city in Al Arish on an area of 250,000 meters with EGP 200 million initial costs.

Tamer Al Shorbagy, head of “Youth Investors Assembly” in Sinai, in statements to Amwal Al Ghad, said the project is under the supervision of the assembly in cooperation with a number of the local investors. The city, which is nearby Sinai University on Cairo-Riphah international road, provides 3000 residential units with spaces from 70 to 140 meters and divided on 420 buildings.

He added that the unit’s average price reaches EGP 80 thousands to be paid on 5 years with interest free.

He referred that delivering the units will be done after finishing the construction process which is expected to take 18 months; including school, health unit, club and mosque.

Al Shorbagy, via “Amwal Al Ghad”, sent invitation to the president of Housing and Development bank and all Egyptian investors for the investing participation in this project, in order to expand thousands of residential units.