Cairo – Mubasher: Tatweer Misr targets EGP 30 billion to EGP 32 billion in revenues from Il Monte Galala project in Ain Sokhna.
The Egyptian real estate firm invests a range between EGP 16 billion and EGP 17 billion in the project over two phases, managing director Ahmed Shalaby said in an interview with Reuters.
Il Monte Galala will feature 8,000 residential units and hotel apartments, and will be delivered by December 2019, Shalaby added.
Spanning 2.2 million square metres, the project is executed with EGP 1.5 billion in investments that will be paid off over 10 years, he highlighted.
Tatweer Misr is working on completing the project to deliver the first phase of Il Monte Galala in December.
Shalaby had previously said that Tatweer Misr was planning to pump EGP 7 billion to EGP 8 billion into its business in 2018.
