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State-owned Egyptian Arab Land Bank’s has sold Long Beach Ain Sokhna for more than one billion Egyptian pounds last week.
A source with knowledge told Amwal Al Ghad that the agreement has signed using revenues-sharing system with number of real estate developers.
Long Beach Ain Sokhna included h 140 villas and 500 chalets, and 270 hotel rooms attached building service hotel rooms, 8 swimming pools, a mall, in addition it has 46 shops on the outer fence, and restaurants and cafeterias areas as well as private parking area
