Egypt-based property developer, Tatweer Misr has promoted the first phase of its Fouka Bay project in the North Coast, the Managing Director, Ahmed Shalaby said Saturday.
The project’s first phase includes 170 units while the whole project is implemented upon four phases over five years with investments amounting to 2 billion Egyptian pounds.
Rolling out on 1 million sqm of land, Fouka Bay conveniently situated in Ras Al Hekmah 210 km west of Alexandria and 70 km from Marsa Matrouh.
On the other hand, Tatweer Misr submitted a proposal to the Ministry of Housing to develop an entire project at the New Administrative Capital. The proposal included development of 500 to 1,000 acres. The company is now awaiting the ministry’s approval and the implementation scheme. The new capital integrates the company’s project in Ain Sokhna, especially after completing the national roads networks.
Established in 2014, Tatweer Misr is an Egyptian shareholding real estate company, that capitalizes on a wealth of industrial and real estate experience brought to the table by its shareholders. Major shareholders such as Arafa, Daoud and Ahram Groups provide the business and technical expertise needed to fulfill the vision of mixed use residential developments based on elegant and luxurious modern architecture and landscaping.