El Gamal Group Hands over 100 Units in Porto Mayorka project

Egypt’s El Gamal Group has delivered 100 units of Porto Mayorka project in North Coast, out of total 180 units, said chairman Abdul Ghani El-Gamal.

El Gamal plans to finalise the marketing of the remaining units by early 2015, he noted.

Porto Mayorka Project is built on 4 feddans, with an investment cost worth around 40 million Egyptian pounds.

Asked about the current Egyptian real estate sector, the official said both clients and real estate investors are currently in state of apprehension.

Investors are still waiting until the country forms its parliament and permanent government, before pumping new investments whether in current or new real estate projects, El-Gamal noted.

Moreover, the official referred that El Gamal Group is currently in the process to deliver 30% of its total projects. The group plans to hand over all its projects by end of 2015.