Egypt-based real estate developer, Metawee Group is to start implementing a new project named “Blue Blue”, worth 750 million Egyptian pounds (US$95.8 million) during this year, its CEO Mohamed Metawee said Wednesday.
“Blue Blue” is located in Ain Sokhna, and covers a space of 121,000 sqm. The project includes 700 residential resort units, with areas that start from 100 sqm to 300 sqm, while it is divided into four areas, including: Lake View; Water Front; Sea View; and Island.
In addition, the project will be delivered within three years, Matawee said.
Metawee added that the group is offering outstanding facilities for the clients to book units in the project, including interest-free five-year payment period with payments made over up to five years.
The new project is considered to be a step to support the Egyptian economy and develop the real estate market in Egypt, given that real estate is the fastest growing sector and the backbone of the economy and investments.
Regarding the job opportunities that the new project is providing, Metawee indicated that the skills of 120 supervisors and engineers will be utilised until the project’s finalisation. He added that through the project’s operations, 5,000 daily jobs are being provided.
Metawee Group was established in 1998, and works in the fields of real estate, tourism investment, and development. Its current projects include “Sky View”, located in the Fifth Settlement, and “La Vida” compound, located in Heliopolis.