Mabany Idris announced the launch of a new phase of its “Koun” project, Ras El Hekma on the North Coast, after the success achieved by the first and second phases that the company presented in the summer of 2023.

Mabany Idris has sold the units that were offered in the “Koun” project in record time, and the company aims to achieve total sales from the project estimated at 12 billion pounds.

"Koun" project has a distinguished location at Kilometer 201 of the Alexandria-Matrouh Road on the northwest coast.

In the new phase of "Koun", "Mabany Idris" is offering fully finished units in a variety of models and sizes, including ground floor apartments, recurring "one - two - three room" models, stand-alone villas, townhouses, and twin houses.

Eng. Mohamed Idris, Chairman of Mabany Idris, revealed that the volume of investments in the “Koun” project increased from 6 to 7 billion pounds, as a result of the increases that occurred during the past year in the prices of raw materials, the costs of implementing projects, and the decline of the local currency against the dollar, indicating that the company is keen to implement the project with the latest materials to maintain the delivery of projects with the usual quality.

He added that despite the challenges that the market witnessed during 2023, the company was keen to begin implementation and work on the project in full swing, and construction of the first phase, as well as the lagoon, has begun. The company is keen to pay attention to the quality of the beach and prepare it to host customers.

He continued, "The company is keen to speed up the implementation processes of projects as one of the most important precautionary mechanisms in the face of successive changes in raw material prices."

The construction percentage in the project is 15% of the total land area, and Mabany Idris was keen to increase the water and green spaces and services in “Koun” project, and the units have distinctive views of the water bodies.