Egypt's Marseilia Real Estate Investment says it plans to start promoting two new phases in its residential resort flagship Hayat Alex Park in Alexandria, the state's second largest city, within the fourth quarter of 2018. The company also seeks to achieve sales worth around 1.5 billion Egyptian pounds ($83,861) from the two phases, it's chairman Sherif Helew said Sunday. Marseilia has marketed the project's first phase, Helew told Amwal Al Ghad, adding that the second and third phases will be promoted at the end of this year, with total 1,200 various housing units. "The second phase is set to include about 600 units," he noted. As for Hayat Alex Park, the Egyptian official clarified that the project is being carried out on a space of 42,000 square metres. The project is to comprise 16 residential towers, with initial investments of three billion pounds as well as a four-star touristic hotel and entertainment city, Helew said. In addition, Heliwe referred that his company hopes to invest around 350 million pounds in Hayat Alex Park and achieve contractual sales of 500 million pounds within the current year.
