Marseilia Egyptian Gulf Real Estate Investment is seeking to invest in three tourist projects in Egypt by the end of 2017, Invest-Gate reports.

“The investments will include two projects in Upper Egypt,” Chairman and CEO of Marseilia Egyptian Gulf Real Estate Investment, Yasser Ragab, says in recent press remarks.

Ragab adds that the company will carry out part of the projects in co-operation with the Ministry of Housing.

Meanwhile, the real estate developer has established Marseilia Company for Asset Management with a licensed capital of EGP 2.5 mn. Also, the company’s net profit in the first quarter of 2017 accounted at EGP 12.2 mn versus EGP 9.4 mn a year ago.