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Egypt’s Empire for Real Estate Development has launched the first phase of its touristic and residential project in North Coast within this month, chairman Karim Abdel Aleem said on Sunday.
With targeted sales of 250 million Egyptian pounds ($14) million, the first phase is set to be carried out over 10 feddans, with total 300 various housing units, Aleem further added.
The Egyptian official said Empire will start implementing the project on a space of 27 feddans in three phases within the fourth quarter of the current year, with investments of around 950 million pounds.
“The project is to encompass about 2,400 housing units,” he said
