Emtelak for Real Estate Development’s sales for its Garawla Islands projects amounted to EGP 1.2 billion in two years, announced its managing director, Ziad El Emam, reported Amwal Al Ghad.
El-Emam made those comments during the Elite Real Estate Exhibition (EREEX) held between 19 to 23 July.
“We are currently focusing on the Garawla Islands project, which lies between Ras El-Hekma and Marsa Matrouh. This is considered to be one of the most attractive investment places in the North Coast,” El Emam said, according to Daily News Egypt.
Emtelak has achieved approximately one-third of the targeted EGP 300 million in sales for the 2016/2017 fiscal year, added El Emam.
The Garawla Islands project was financed through personal investments, client instalments, and profits from other projects.
The company’s future investment plans include New Cairo, Ain Sokhna, and Sheikh Zayed cities.
Emtelak is an Egypt-based company founded in 1977 with several touristic projects under its belt such as Dimora and Remas in North Coast, and Palm Beach in Ain Sokhna.