Emtelak Real Estate and Development is launching an EGP 1.6 billion tourist hotel project in Ain Sokhna, announced company Managing Director, Ziad El Emam, according to Amwal Al Ghad.
The project will be built over 120 acres, under the private public partnership (PPP) system, in cooperation with another property developer.
The company will be in charge of developing and promoting the project for an unannounced percentage cut, said El Emam.
Emtelak has successfully delivered several projects in the past year in New Cairo, according to its website.
In addition, the company is currently working on the Garawla Islands project, which lies between Ras El-Hekma and Marsa Matrouh, according to Invest Gate.