Madaar to invest 700 mln pounds in Azha Ain Sokhna this year

Egypt’s Madaar Development Company is pumping investments worth 700 million Egyptian pounds ($38.5 million) into its flagship Azha in Ain Sokhna within 2017, chief executive Gasser Bahgat said Saturday.

The Egyptian property developer company targets delivering Azha’s first phase at the end of 2018, Gasser told Amwal Al Ghad.

“The first phase of the project includes 350 units,” he noted.

Gasser further added that Madaar has so far promoted 600 units in Azha.