Micro Castle Co. for Real Estate Investment will be finalizing the second phase of its Porto Perla project in Alexandria in May 2017, reported Al Mal.
The project will be built on an area of three acres located in Alexandria, at a cost of EGP 12 mn. The second phase is expected to include six residential buildings that contain a total of 170 residential units with floor plans ranging from 63 to 115 square meters, according to Al Mahdy Mohamed Al Mahdy, the company’s CEO.
The company has completed 50% of the marketing plan for the entire project, having postponed marketing other units as it awaits the stabilization of dollar and building material prices, Al Mahdy added.
Micro Castle previously implemented the Tiba Beach Compound that spreads on 35 acres located in North Coast, at a total investment cost of EGP 300 mn. The project contains 560 residential units that include 50 separate villas, with floor plans ranging from 111 to 400 square meters, along with amenities such as swimming pools, sport courts, 32 commercial units, and a four-star hotel.