IWAN Developments to start new housing project in Ain Sokhna in 2020

Egypt’s real estate developer, IWAN Developments plans to start executing its fully-fledged housing flagship – Majada –  in Ain Sokhna within 2020, said chief executive on Monday.

The project, which is with total investments of 5 billion Egyptian pounds ($307.8 million), will include a hotel with a capacity of 50 rooms, Waleed Mokhtar added.

“Majada will be implemented on a space of 101 feddans in four phases within a timeframe ranging between 7-8 years,” Mokhtar said.