For his part, Hisham Ibrahim, Managing Director of Winvestor Developments, says that the external expansion of real estate development companies has become a necessity imposed by the urban expansion that Egypt is currently witnessing.
Under the agreement, MGM will manage and operate the project which is slated for inauguration in 2023.
The new project, YANMU East Logistics Park, is set to open in 2023.
Minister of Housing and Chairperson of the NUCA, Assem El-Gazzar, notes that the new budget is 139% higher than the budget approved for FY 2019/2020.
The CEO notes that Azha Ain Sokhna provides its visitors with an unprecedented experience of life as it spans over 400 feddans, with a 700m-beach front in a touristic area.
The Egyptian Minister of Housing, Assem El-Gazzar, mentions some rules for the allocation of the said lands including allocating land in two phases to serve a project that could last up to 5 years, at maximum.
The units sold cover more than 50% of the units offered in the first phase of the project.
The project is set to include different residential units, along with commercial units, restaurants, landscapes, and swimming pools.
The three-day event is held between 7 and 9 March with the "Caring for Water" rubric.
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