Prominent real estate developer Mabany Edris has officially announced the launch of the second phase of the Koun project in Ras El Hikma, North Coast, following the complete sell-out of the first phase, Invest-Gate reports.

Situated at 201 km on the Alexandria-Matrouh Road, the project spans over 447,657.5 sqm, with a total investment of approximately EGP 6 bn.

For his part, Mohamed Edris, CEO of Mabany Edris, expressed his satisfaction with the strong demand and successful completion of the first phase. He affirmed the company’s dedication to offering distinctive real estate products that meet client’s needs.

The project consists of four phases, with the second phase launch being an integral part of the company’s plan to adhere to predetermined schedules. Also, the first phase deliveries are expected within four years, and the sales of the first phase reached a total of EGP 2 bn.

Moreover, the second phase, featuring 410 units varying in sizes and pricing options, is projected to achieve EGP 1 bn in sales in 2023. A budget of EGP 300 mn has been allocated for construction works and necessary facilities. Construction work on the Koun project will commence in the last quarter of 2023.

The project includes cutting-edge facilities such as lagoons, a clubhouse, swimming pools, and recreational spaces, providing a modern and luxurious lifestyle, in addition to providing advanced security systems.

Featuring standalone villas, twin villas, townhouses, duplexes, and chalets, the Koun project sets a new benchmark for innovation in the region, offering an unparalleled experience on the North Coast. It represents Mabany Edris’s first residential, entertainment, and tourist project.