Apache Developments announces that the units will soon be sold out in the second and third phases of its Santorini project, which will be built on an area of 42,000 sqm on the North Coast, Invest-Gate.

Ibrahim Mustafa Tawfiq, Chairman of Apache Developments, says the company succeeded in delivering the first phase ahead of schedule, in a precedent that is the first of its kind in light of the challenges that the real estate market is currently facing, including the surging inflation.

Tawfiq indicates that the Santorini was to be implemented in three phases, but the second and third phases were merged into one phase due to the high demand by customer.

The second phase was to be completed in 2024 and the third phase in 2025, and after the merger, the two phases will be delivered together in 2024, he adds.

Tawfik reveals that the areas of the units range from 35 to 140 sqm, noting that the project is operating at full capacity with all services, including medical clinics, restaurants, cafes, hypermarkets and aquapark areas for children.

Total sales of the first phase exceeded EGP 600 mn, the top executive unveils.

He states that the company aims to achieve sales of EGP 500 mn during 2023, adding that the company is focusing its work on the North Coast region in the coming period.