Egypt’s Catalyst Real Estate Consultancy Company plans to set up its new residential flagship, First Home, in the new City of Galala, located between Ain Sokhna and Zafarana, at the end of 2018, Zawya reports.

Catalyst’s Chairman Osama Shalaby told Amwal Al Ghad last week that the project’s initial investments are EGP 5 bn and targets around EGP 6 bn in return.

“The company is set to pump investments worth about EGP 300 mn into the project within this year,” Shalaby stated, adding that the company has already invested in seven commercial, administrative, and medical projects in New Heliopolis and Al Shorouk cities.

First Home will be built over 360,000 square meters and will comprise 3,000 housing units.