TOREC Developments, a subsidiary of the New Urban Communities Authority (NUCA), has achieved EGP 1.3 bn in sales at its North Coast flagship project, Marina 1, Invest-Gate reports.

The company launched 147 units, including chalets, townhouses, twin houses, and standalone villas, with areas ranging from 78 sqm to 396 sqm. Prices start from EGP 30,000 per sqm, reaching up to EGP 46,000 per sqm for cash buyers. Flexible payment plans are available, starting with a 10% down payment and installment options of up to 7 years with interest. Unit delivery is scheduled for 2027.

Strategically located at km 94 on the Alexandria Desert Road, Marina 1 lies in close proximity to New Alamein City, Sidi Abdelrahman, Alamein Towers, and Alamein Arena—positioning it as a prime lifestyle and investment destination on Egypt’s North Coast.

TOREC Developments was established in 2015 with a shareholder structure comprising NUCA, Al Oula Mortgage Finance , MIDBANK, the Holding Company for Investment & Development, Misr Insurance, and Misr Life Insurance. In 2021, the company appointed Mohamed Anwar Helal as CEO to lead its expansion strategy, while NUCA raised its ownership stake to 67%. Capital has since increased to EGP 500 mn in 2022, fueling TOREC’s diversification into both development and marketing of NUCA projects.