Egyptian Arab Land Bank sells Long Beach ElSokhna for 1 bln pounds

State-owned Egyptian Arab Land Bank’s has sold Long Beach Ain Sokhna for more than one billion Egyptian pounds last week.

A source with knowledge told Amwal Al Ghad that the agreement has signed using revenues-sharing system with number of real estate developers.

Long Beach Ain Sokhna included h 140 villas and 500 chalets, and 270 hotel rooms attached building service hotel rooms, 8 swimming pools, a mall, in addition it has 46 shops on the outer fence, and restaurants  and cafeterias  areas as well as  private parking area