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Egypt’s Al Ahly for Real Estate Development has started executing a housing and touristic flagship – Gaia – in North Coast resort, managing director said on Saturday.
The project is being implemented in partnership with real estate investment firm El-Dar Global over 284 feddans, with an investment cost worth 9 billion Egyptian pounds ($560.3 million), Ahmed Sabbour said.
“We target sales estimated at 10.5 billion pounds from the project, which will include spaces varying between 120 square metres and 284 square metres,” Sabbour said.
Gaia is set to be completely delivered within the second quarter of 2023, he added.
