Egypt’s real estate developer Inertia is planning to develop two new projects in Ain Sokhna and New Cairo, a step coming after it posted record-high housing inventory of nearly EGP 100 bn, Invest-Gate reports.

The announcement came during the company’s Sohour event on May 23, where celebrations of last year’s achievements took place and discussions on upcoming plans and projects were unwrapped, according to a statement released on May 28, confirming that Inertia’s land bank has exceeded 7.5 mn square meters.

During his speech, Inertia’s CEO Ahmed El Adawy highly commended the attending brokers as well as partners in success for their significant efforts throughout the past years, while putting the spotlight on the company’s largest project on the North Coast, Jefaira.

“It is an all-year-round beach town on the Mediterranean Sea, with an area of 5.5 mn square meters. Residents of Jefaira will enjoy one of the longest beachfront in the North Coast, measuring 3.6 kilometers, in addition to beautiful landscapes and vast green spaces. Moreover, Inertia acquired all the necessary permits for this project,” El Adawy was quoted as saying.

“Furthermore, Inertia has numerous projects spread over a wide geographical area throughout Egypt in Cairo, Sahl Hasheesh, El Gouna, the North Coast, and soon to be in Ain Sokhna and New Cairo,” he pointed out.