Egyptian developer TLD has launched Laguna, a new extension within its il Bayou project, in Sahl Hasheesh in the Red Sea governorate, at investment of 2 billion Egyptian pounds  ($42 million).

Company CEO Omar El Tayebi told Zawya Projects that Laguna spans an area of 80,000 square metres (sqm) and will increase il Bayou’s total area to more than 125,000 sqm.

It comprises 125 villas and 100 chalets and is expected to generate sales worth EGP550 million ($11.5 million).

Laguna, designed by L35 Madrid, is the first phase of a five-phase integrated residential and hotel project being developed as an extension to il Bayou.

He said the company has allocated EGP1 billion ($21 million) for construction work in 2024.

El Tayebi disclosed that TLD is planning to launch new projects in East and West Cairo in the third quarter but didn’t elaborate.

He said they will deliver 150 units in Armonia project in the New Administrative Capital in the first half and 208 units by the second half of 2024.

The company owns 70 acres in different areas in Egypt.

(1 US Dollar = 48.00 Egyptian Pounds)

(Writing by Eman Hamed; Additional Writing by Marwa Abo Almajd; Editing by Anoop Menon)


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