Marseilia Group planning new mega flagships in Ain Sokhna, North Coast, Alexandria

Egypt’s property developer Marseilia Group says it targets implementing a bundle of new projects in Ain Sokhna, North Coast, and Alexandria before the end of 2017.

The projects will be with investments totalling more than six billion Egyptian pounds ($330.9 million).

Yasser Ragab, chairman of Marseilia Group, said Tuesday that his company plans to expand its businesses, through executing new future projects beside its current flagships.

“Our business portfolio includes 15 touristic and housing projects in Alexandria, Marsa Matrouh, Ain Sokhna, and North Coast,” Ragab noted.

The Egyptian official further added that Marseilia Group has concluded all the 15 flagships.

About Marseilia Group’s additional projects, Ragab added that the company has launched the second phase of Marseilia Beach 4, with investment cost of 630 million pounds.

Ragab showed that Marseilia Beach is located in Sidi Abd El Rahman Bay area, Alexandria.

“We are close to finish promoting the first phase of Hayat Alex Park project in Alexandria,” he said.

Ragab stated that the housing part of Hayat Alex Park would be estimated at two billion pounds.

In addition, Marseilia Group has completed carrying out Blue Bay Asia Ain Elsokhna project with investments worth 450 million pounds, he elaborated.

“We seek to implement more real estate projects in all the governorates, notably Upper Egypt and Delta regions,” Ragab said.

Marseilia Group is competing other firms in order to capture land plots which are launched by the Housing Ministry in Six of October City and Fifth Settlement, he concluded.