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Tatweer Misr launches latest D-Bay project on North Coast with EGP 7bn of investments Following success of Fouka Bay, Tatweer Misr sees need for second North Coast destination to build on unique value proposition, says Ahmed Shalaby
As part of its strategy to increase its geographical footprint across the country, Tatweer Misr, the leading Egyptian real estate company, announced its expansion along Egypt's North Coast, following its previous success in the area. The company aims to develop a 200-feddan area of land in partnership with Kayan for Real Estate Development, under the name of D-Bay. The project, which is located on the Mediterranean Sea coastline, will see initial investments exceeding EGP 7bn. D-Bay aims to increase Tatweer Misr's overall land bank by approximately 845,000 sqm, to place the company's total land bank area at more than 5.8 million sqm. The development is set to be located overlooking the crystal blue Mediterranean Sea with an 800-metre-long shoreline and a lagoon. Additionally to this, every home is a waterfront home as an extension to Fouka Bay's unique masterplan design. "The establishment of D-Bay is a step closer towards achieving our ultimate vision of developing sustainable, smart, and happy communities, while being geographically widespread to ensure that we are offering our clients luxury-standard living in diversified locations," said Ahmed Shalaby, President and CEO of Tatweer Misr. He also said, "The new project comes in line with the Government's directives for transforming Egypt's North Coast, from a summer destination to an all-year round destination according to the 2052 vision." Tatweer Misr also revealed its rebranding during a press conference held to announce the company's expansions on the North Coast. The new branding marks the beginning of a new era of Tatweer Misr Creating Destinations, and symbolises the company's journey. This will see it develop from a newly created company, progressing into a more mature and well-established company that acts as a major contributor to the Real Estate sector and the Egyptian Economy as a whole. Located near 165KM in the AlDabaa area on the Alexandria-Matrouh Road, the latest development in Tatweer Misr's portfolio features more than 1,800 units ranging from chalets, villas, and serviced apartments. The company has also announced that it targets to develop the project over a period of six years. Shalaby said that D-Bay is the latest addition to Tatweer Misr's journey and is considered an extension of Fouka Bay, which established itself as one of the most remarkable destinations in the North Coast following its operations in the summer of 2020. "Since our establishment, we were able to develop successful and pioneering projects as a result of extensive expertise, teamwork, and a network of business partners who enabled us to achieve this reputation," he said, "Therefore, we will continue to work hard and progress, contributing to the economic growth." He added that, leveraging on previous success, the company will continue to collaborate with its partners of success, ensuring that Tatweer Misr's clients experience world-class quality. Tatweer Misr's portfolio also features a wide array of projects in diverse locations, all featuring innovative design concepts and different personas. The projects are: IL Monte Galala, spanning over 545 acres located on the Galala Mountains; Fouka Bay, in Ras El-Hikma, the North Coast on an area of 220 acres; and Bloomfields in Mostakbal City and adjacent to the New Administrative Capital (NAC). The mixed-use project spans over 415 acres split into 325 acres for the residential, commercial and administrative area and 90 acres dedicated to become an educational zone.
