Tatweer Misr, a property developer in Egypt, has launched a public tender for the construction of 600 villas and residential units in IL Mont Galala Phase I, said its Managing Director, Ahmed Shalaby, Amwal Al Ghad reported.
A total of 15 firms bought the terms of reference booklet, Shalaby added.
The company will assign the developer in September, with construction work set to start in October, according to Masrawy.
The estimated investment in the project is EGP 8 billion, to build 5,000 units. The first phase will see 1,600 residential and hotel units delivered in 2019.
The project spans over 2.2 million square meters in Galala Mountain in Ain Sokhna, situated on the eastern coast of the Suez Gulf.