El Batal Group for Housing and Development is planning to carry out a residential project in the Fifth Settlement in New Cairo at a cost of 300 million Egyptian pounds ($33.7 million), said its chief executive Emad Doss.
The project will be offered for sale before the end of this year, Doss added.
He further said that his company is going to implement 250 hotel units offered entirely to non-Egyptian residents.
The units will be from 50 to 100 metres wide, the Egyptian official said asserting that the company would sign contracts with contractors to start implementing the project as a next step.
El Batal group is looking to finalise and deliver this project within two years and a half, Doss noted hinting that his company is planning to start marketing campaigns in the coming months.
