First Group to launch new project in North Coast mid 2019

Egyptian property developer First Group is planning to launch a new project in North Coast resort by mid-2019, said its chairman Bashir Mustafa on Monday.

The semi-furnished project will be developed over 94 feddans, with investments of three billion Egyptian pounds ($167.4 million) and targeted returns of six billion pounds, Mustafa added.

“We are studying executing a residential project owned by a number of public-sector firms in the country’s new administrative capital,” he said.