Projects Real Estate Development has succeeded in achieving contractual sales of 700 million Egyptian pounds from Blues Tiffany North Coast Hossam Bahaa, CEO of Projects said.
The company targets increasing the project sales to reach 2 billion pounds by the end of the current year, driven by the launch of new phases of the project and expanding its marketing in the local market and abroad.
He added that Blues Tiffany is a touristic hotel project, located on an area of 250 feddans in Ras El-Hekma, North Coast, with a total of 4,000 units with sizes ranging from 48-300 sqm, with total investments worth 10 billion pounds.
on the other hand, A new phase will be launched within the project during the Cityscape exhibition, which is an island within the project with about 30 units. This phase will be marketed in parallel with the marketing of the first phase of the project. We aim to market and implement the project over four phases.
The investments targeted for the project during the current year are expected to reach about 400 million pounds, and that the value will increase during the next year to accelerate the implementation rate of the project.
It is planned to hand over the first phase of the project in 2020, while the entire project will be implemented and marketed within seven years.
Moreover, the company is negotiating to buy two plots of land in New Cairo and Sheikh Zayed to implement a residential project on areas starting from 100 feddans. Moreover, the company is also awaiting the next investment offering by the New Urban Communities Authority to identify opportunities for participation.