Egypt’s Marseilia pumps investments of 300 mln pounds into Hayat Alex Park

Egypt’s property developer Marseilia Group announces that it has injected investments worth around 300 million Egyptian pounds ($16.8 million) in its residential flagship Hayat Alex Park Compound.

Yasser Ragab, Marseilia’s chairman, told Amwal Al Ghad on Tuesday that the 300 million pounds are out of total 3 billion pounds, which represent the project’s investments.

“The flagship will include the implementation of a commercial centre, on a space of 23,000 square metres,” Ragab further said.

Moreover, the Egyptian official added that Marseilia plans to execute a new residential, touristic, and entertainment project in Nasr City district, in partnership with one of the governmental entities that owns the land plot.

“The project is expected to be launched within the next year,” Ragab noted.