Egypt’s property developer El Shahawi Group has kicked off implementation works at its two coastal projects, namely Ein Hills and Pali in Ain Sokhna and the North Coast, respectively, eyeing total sales of around EGP 10 bn, Invest-Gate reports.
Located on El Galala Plateau, Ein Hills is a residential compound that will comprise 500 units, El Shahawi Group’s Deputy Chairman and Managing Director Hosny El Shahawi said in a statement released on March 24, noting that the project is scheduled to be fully delivered during 2022.
El Shahawi further revealed that Ein Hills’ first phase, which comprises 50 units, will be handed over next July. He pointed out that 55% of the project’s units were sold so far and he expects its total sales to reach EGP 3 bn.
As for the North Coast project, Pali, which lies 16 kilometers away from El Dabaa new road, is set to be fully delivered by 2023 at a sales target value of over EGP 7 bn, he added.
The managing director also indicated that Ein Hills spans across 50 acres within the cliffs of El Galala Plateau, while the North Coast’s Pali extends over 75 acres and overlooks the sea across Alexandria-Matrouh Road.
