Madaar Development to launch the largest residential and tourism project in North Coast, after achieving a huge boom with Azha project in Ain Sokhna, Invest-Gate reports.

Gasser Bahgat, chairman of Madaar Development states: “the new project will be developed on 250 acres in Ras El-Hikma area in one of the most beautiful places in the North Coast, with initial investments worth approximately EGP 20bn.”

Moreover, the new project is located at kilo 214 on Alexandria-Matrouh Road in Ras El-Hikma area, close to the new road network that shortens the time to reach this distinguished part of the coast, especially Dabaa Road.

The Company’s chairman reveals that preparations for launching the new project in the North Coast has begun, starting from selecting major local and international engineering companies, designers and consultants in all disciplines, to present the largest residential and tourism project in terms of green spaces, recreational, tourism and commercial services, in addition to, types of units and finishes at the highest level.

Next month, a press conference will be held to announce all details of the new project in the North Coast, he concludes.