Palestinian-Israeli economic war    EFA official confirms Ahly-Zamalek league derby to go ahead as scheduled    Mori, The Artist's Habitat    The winds of change    Coronavirus death toll reaches 1,876, confirmed cases rise to 73,332    CBE doubles mortgage finance share to 10% total loan portfolio at banks    Don't miss the concerts of The Royal National Ballet of Georgia at the Cairo Opera House    Neanderthals used flowers in their mortuary practices: study    Pancakes with beef ham and cheese    Towards an African anti-terrorism force    Remembering the Nightingale of the Nile    Last leg in the GERD talks    Google Maps celebrates 15th anniversary with introducing new features    China sees fall in coronavirus deaths but WHO urges caution    Little Women on its way to become a classic    Iran's Khamenei calls for high turnout in parliamentary election    HSBC misses expectations pre-tax profit during 2019    Netherlands to face Greece, Wales in Euro 2020 buildup    Most major Gulf stocks dip; Dubai bears the blow on property    Egypt central bank seen keeping key interest rates steady    Egypt posts trade exchange $5.3B with the world in 11 months    Oil prices fall as market weighs coronavirus demand impact    Manchester United's Maguire should have seen red: Chelsea boss Lampard    Hospital director dies in China's Wuhan, epicenter of coronavirus outbreak    Madbouly follows-up progress on new municipal solid waste system    Immigration Minister defends herself against criticism over carpeted canal bridge photo    Shoukry discusses regional crises, Gulf security in bilateral meetings on Munich Conference sidelines    UEFA Champions League: defending champions Liverpool clash with Atletico Madrid    MTI Group to establish e-payment holding company to parent Bee, Masary    EGX-listed companies shrug impact of Coronavirus on sales    Berlinale Africa Hub to take place 20-27 February    Egypt sentences Boutros Raouf Ghali to 30 years for smuggling artefacts    Naguib Mahfouz's daughter donates some of Nobel laureate's belongings to his museum    House of Representatives wronged, history would do it justice: Deputy Speaker of Soliman Wahdan    Rise in coronavirus infections prompts Japan to limit public crowds    Khamenei loyalists may tighten grip at Iran elections    Sharm El Sheikh receives 2 UK flights in 4 years    Sisi attends funeral of former commander of Egypt's air forces    Rockets hit U.S. coalition base in Baghdad, no casualties    Egypt expects final agreement on GERD to be fair: Shoukry    Zamalek dominate Africa from Doha    Egypt's FM expects final, fair deal on Ethiopian dam to serve Cairo's interests    Chinese Grand Prix likely to be called off amid coronavirus concerns    Zamalek clash with Espérance de Tunis, eyeing first CAF Super Cup in almost 17 years    Egypt's Golden Age actress, Nadia Lutfi, dies at 83    Basketball legend Kobe Bryant, Daughter Gianna die in helicopter crash    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    Egypt's Sami Anan released after near two-year detention    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Al Madar For Development & Real Estate to invest EGP 700m in Azha in 2016
Published in Daily News Egypt on 22 - 01 - 2016

Al Madar For Development & Real Estate Investment plans to invest between EGP 600m and EGP 700m in the Azha Compound in Ain Sokhna through 2016.
Gasser Bahgat, chief executive of the company, said in a press conference that investments include contracts throughout the year to begin construction on 1.6m square meters of the Azha project in Ain Sokhna.
Bahgat added that Madar will aim to provide homes to first-time buyers, noting that the total investments of the project amount to EGP 7bn.
He explained that Madar contracted Barton Willmore and Mixity to implement the project.
Madar inaugurated the Azha project in Ain Sokhna, which includes residential villas, modern houses, and international restaurants overlooking a waterfront with an area of 700 meters in the Gulf of Suez area.
Madar was founded in July 2015 with capital of EGP 400m. The company's most prominent stakeholder is the Sun Rise group, in addition to Egyptian and Arab investors, including the Saudi group Anan.
Bahgat told Daily News Egypt on the sidelines of the project launch ceremony that sales are expected to exceed EGP 1.8bn in the current year.
The development of Azha is estimated to take between 6 to 7 years, with first phase units to be delivered in 2018.
Bahgat noted that the company plans to launch another project in Ras El- Hekma of the North Coast in July.


Clic here to read the story from its source.