Tatweer Misr launches new phase in $1bn IL Monte Galala-Sokhna project

Egypt-based property developer, Tatweer Misr announced Monday the launch of a new phase for the highly anticipated IL Monte Galala-Sokhna project in Ain Sokhna, around 120 km (74.5 miles) east of Cairo.

The project is with total investments estimated at 8 billion Egyptian pounds (US$1.02 billion). This phase is one of seven phases to be launched during the upcoming years.

IL Monte Galala-Sokhna has witnessed high purchasing ratio since its launch late 2015.

The launch of a new phase comes in line with offering major contractor firms to take part in a tender to carry out IL Monte Galala-Sokhna project, said Baher Ayoub, Chief projects officer, Board Member and Partner at Tatweer Misr.

IL Monte Galala-Sokhna is positioned to become a local and international destination of choice offering unparalleled activities and lifestyle options based on their unique vision of building value that goes beyond the integration of Ain Sokhna’s stunning natural beauty into the project’s urban design.

Situated over 2.2 million sqm of the Galala Mountain, the development will offer distinctive zones that focus on providing unique leisure and entertainment experiences yet to be offered in Egypt.

Talking about the importance of the project, Ahmed Shalaby, Managing Director and Member of the Board at Tawteer Misr said “At Tatweer Misr we are committed to building value and, as such, providing more than just a residential destination.