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Egyptian developer Ebny Developments appointed has appointed a consultancy alliance for the company’s upcoming project ‘Azalea Resort’ in the New Sohag Governorate.
Company chairman Abdullah Kamel told Zawya Projects that they have signed up Yasser El-Beltagy (YBA) Architects, Inversion for Real Estate Development and White Advertising to execute various elements of the project including design and engineering services, project management and marketing.
Kamel said that the 36-acre project would be developed at a total investment of 4 billion Egyptian pounds ($206 million) and be completed in five years from the start of construction.
The developer is awaiting the ministerial approval to start construction, he said, adding that the development comprises of residential units and a commercial and entertainment area.
Kamel didn’t disclose the number of units.
General Manager Ismael Omar said that they are studying investment opportunities in different cities of Upper Egypt, such as New Minya and Assiut as both local and overseas Egyptians are seeking integrated residential communities in Upper Egypt.
He said Ebny has two projects under construction in New Sohag, namely Westway commercial project, spread over an area of 13,000 sqm, comprises of shops, restaurants, kids area, and clinics while the 2.5-billion-pound ($129 million) Greene Avenue, a 20-acre residential project, includes 31 residential buildings and 20 villas.
(1 US Dollar = 19.37 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
