Prime Minister Mostafa Madbouly, who is also the Minister of Housing, Utilities, and Urban Development, has revealed that the first phase of developing Rowaysat in Sharm El Sheikh is being completed, Invest-Gate reports.

Worth a total investments of EGP 141 mn, the first phase will encompass 31 residential buildings that will have 496 units to be delivered by the end of September 2018. 

The second phase of the project will start by the end of this year, Khaled Seddik, Executive Manager of the Informal Settlements Development Fund (ISDF) has said in an official statement.

He has also added that the EGP 177 mn second phase will include 37 residential buildings comprising 624 units.