Egypt’s property investment company Rofaida Real Estate has started the initial delivery of the first phase of Row Marina Resort project in North Coast, aiming for the project to commence operations by next summer, state-owned Al Ahram Al Iktisadi news website reports.

Almost 80% of the North Coast resort has been already implemented and the company targets to finalize it in 2020, Rofaida’s Vice Chairman Ramy Abdel Aziz told Al Ahram Al Iktisadi on November 12.

Rofaida endeavors to complete the sale of Row Marina’s second phase by year-end, which includes about 270 units and was launched two months ago, the chairman added.

Located 102 kilometers from Marsa Matrouh, the 20,000-square-meter project includes 16 buildings encompassing 540 units, with spaces ranging between 50 and 125 square meters.

“In addition to a commercial mall that is rich with various services as well as recreational activities. The mall is scheduled to be developed over two phases,” Abdel Aziz stated.

Abdel Aziz pointed out that the company seeks to acquire a 35-acre land plot, situated directly on the North Coast’s seashore, but it is still in talks over the most appropriate plot in the area.