Egypt’s Tower Developments lays foundation stone for Tower Bay in Port Said

Egypt’s property developer frim, Tower Developments (TD) says it has laid the foundation stone of Tower Bay project in Port Said, with investments totalling five billion Egyptian pounds ($282.8 million).

Ahmed Lasheen, TD’s chief executive, said Saturday that the fully-fledged residential flagship will be established over 102 feddans.

Tower Bay is to encompass a housing part as well as a five-star hotel of 200 rooms, Lasheen further stated, adding that this hotel will be operated within five years.

“The project is set to include a trade area, with spaces ranging between 90 square metres and 180 square metres,” the official said, referring that it is expected to create 2,000 job opportunities.

Tower Developments Co. is planning to start works on Tower Bay in May 2018, Lasheen stated, saying marketing the first phase will be within one month.