Egyptian developer Tatweer Misr plans to develop two of its major projects, Fouka Bay and Il Monte Galala, with EGP 1.5 billion worth of investments next year, reported Amwal Elghad.

Approximately EGP 1 billion will be allocated for the Il Monte Galala project and the remaining EGP 500 million will be allocated for Fouka Bay, according to the company’s Managing Director Ahmed Shalaby.

A total of 1,200 units are expected to be implemented in Il Monte Galala, whereby tenders will be offered for contractors within the next few months in order to start execution in December, added Shalaby.

Il Monte Galala is the company’s flagship project, spreading over 2.2 million square meters in Ain El Sokhna, aiming to offer a unique vision and urban living experience.

Fouka Bay, the company’s second project located in Ras Al Hekmah on the Mediterranean coast, will have a total area of one million square meters.

The company has already completed approximately 25% of work in both projects, amounting to a total of one million cubic meters.