PACT for Investment and Real Estate Development, an Egyptian real estate developer, has announced achieving EGP 2 bn in sales of its North Coast project, White Bay, during 2018, Invest-Gate reports.

PACT’s President Mohamed Gamal exclusively revealed to Invest-Gate that the property developer has sold 400 units out of the project’s overall 700 units, confirming that PACT plans to complete marketing the remaining units during the current year.

Additionally, Gamal noted that the company has managed marketing two phases of White Bay, which covers a total of 145,000 square meters, pointing out that PACT targets pumping investments worth approximately EGP 700 mn into the project throughout the coming period.

The company plans to deliver 200 units in White Bay’s first phase during 2019, Gamal stated, adding that the construction works at the project’s phase I have been finalized and about 85% of the second phase’s construction has been done.

Meanwhile, the official unveiled that PACT intends to launch a new project soon, refusing to reveal any additional details regarding the venture before completing its feasibility studies.

Encompassing 660 residential units varying between villas, twin houses, and chalets surrounded by green areas, White Bay is being built over four phases with a total cost of EGP 1.7 bn. It spans across a total of 80 acres, of which only 13% is the project’s built-up area.

White Bay, which is characterized by its white sand beach, is located in Sidi Heneish, 30 minutes away from Matrouh and adjacent to the new Cairo-Dabaa road.

Residents will have the opportunity to choose between three types of units with different spaces and interiors, which are all built in compliance with the standards of smart homes to save energy and increase efficiency.