By: Abdullah Bedeir
Cairo – Mubasher: El-Shahawi Group, an Egyptian real estate development company, is looking to build two tourism projects in Ain Sokhna and the North Coast within the coming five years.
The property developer aims to generate EGP 10 billion in sales from the two projects, including around EGP 7 billion sales from Bali North Coast and EGP 3 billion from Ein Hills Sokhna, the company’s vice chairman and managing director told Mubasher.
Spanning 75 acres land plot, Bali North Coast features 750 residential units and El-Shahawi Group has logged around EGP 180 million in sales from it, Hosni El-Shahawi said.
Meanwhile, the company has achieved around EGP 1.6 billion sales from the 50-acre Ein Hills project featuring 550 residential units, El-Shahawi added.
The company plans to inject around EGP 2 billion into the construction of the two projects this year, including EGP 750 million into Ein Hills and EGP 250 million into Bali North Coast, he unveiled.
El-Shahawi Group aims to achieve EGP 2 billion in sales from the projects by the end of this year, he pointed out.
Moreover, the vice chairman noted that the group considers the establishment of a 100-acre residential project in the 6th of October city, in addition to the construction of a complex over a 75-acre land plot in New Cairo.
Translated by: Mai Ezz El-Din
