Tatweer Misr aims to deliver 2,000 units in IL Monte Galala, Fouka Bay and Bloomfields by the end of 2022

Tatweer Misr aims to deliver 2,000 units in IL Monte Galala, Fouka Bay and Bloomfields by the end of 2022

Tatweer Misr, one of Egypt’s leading Real Estate developers, recently announces its upcoming plans for 2022, Invest-Gate reports.

The company aims to deliver 2,000 units in IL Monte Galala, Fouka Bay, and Bloomfields projects by the end of the year with total investments worth EGP 3bn divided among these projects. This comes in line with the company’s most notable achievements in 2021 from new product offerings, strategic partnerships, and sales growth.

In response to the evolving competitive landscape, the company strives to accelerate the pace of construction work. The company also aspires to achieve contractual sales of EGP 8bn by the end of 2022, divided among the four projects.

This includes the full operation of the first phase of IL Monte Galala, including the world’s first on-mountain Crystal Lagoon in addition to operating the first phase of the beach during the second half of 2022.

Additionally, the real estate developer will be starting the delivery of the first phase of the residential component of Bloomfields by the end of the year and aims to launch several new phases in their projects.

Likewise, the company announces its most prominent successes during the past year. This includes the launch of the company’s latest project “D- Bay” in Dabaa area in the North Coast during Q1 2021, which spans over an area of 200 acres with around 1,800 units and with total investments of nearly EGP 7bn.

Moreover, one of the company’s greatest successes is the inauguration of the first phase of Bloomfields’ educational zone that spans over an area of 90 acres. The company announces the signing of three contracts worth EGP 3.2bn with three educational entities.

The new contractual agreements included an international branch campus of New Jersey Institute of Technology (NJIT)- which is Egypt’s first branch of an American university, 2 schools for King’s College, and a school for Narmer American College.

Additionally, a strategic partnership has been announced with CIB Egypt and Colliers International to attract more educational entities and investment funds with interest in education and entrepreneurship to launch at the educational zone in order to reach the targeted investments of EGP 10bn.

Tatweer Misr also signs a cooperation agreement with “Huawei Technologies” to deliver sustainable and smart technological software solutions throughout Tatweer Misr’s projects.

Furthermore, the company was able to reap contractual sales surpassing EGP 3.7bn in the 1st half of 2021, which is considered the highest sales Tatweer Misr has achieved in a 6 months’ time period since its establishment. By the end of 2021, the company was able to achieve 100% of its target, which was EGP 8bn contractual sales.

Besides, one of the Company’s major achievements this year is the successful operation of the 1st phase of IL Monte Galala project during the second half of 2021 and the summer operation of Fouka Bay project for the third year in a row featuring the opening of Stanley Restaurant.

In terms of delivery achievements, 1,200 units have been delivered in IL Monte Galala and Fouka Bay projects. Also, EGP 3bn investments were pumped to cover several projects and divided as follows; EGP 2bn to IL Monte Galala, EGP 500mn to Fouka Bay, and EGP 500mn to Bloomfields.

It is noteworthy to mention that Tatweer Misr owns 5.8 mn sqm of land bank in its projects, with total investments amounting to EGP 57bn and it is looking forward to upsurging its land bank by launching more projects in significant and strategic locations.



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