Egyptian Company for Developing Building Materials (EBDM), widely known as Lift Slab Misr, signed contracts to develop  16,800 square meters of  land in Marsa Matrouh, Al Borsa News reported.

The company will invest between EGP 42-47 million to complete developing the project over the span of 24 months, reported Al Mal.

EBDM estimates the sales revenue for the project to be EGP 115 million. The project will include construction of 11 residential building, at four stories each.