Egyptian developer Al Dau development, a part of Sami Saad Holding group, is planning to start construction of its previously announced Cairo West hospitality project in 2021, the company's general manager told Zawya Projects.

Tarek Elghamrawy didn't specify the month or tendering details but said the 10-acre project, located in the 6th of October City, would be completed by 2025.

In April 2019, Daily News Egypt had reported that the project would be launched in the first half of 2019.

The 450-unit project would be built in three phases at a total investment of 1.5 billion pounds ($95 million), and includes a 40-unit 5-star property slated to be built in the third phase, he added.

Elghamrawy also disclosed that the company is studying new hospitality investment opportunities in the 6th of October City and the 5th Assembly in partnership with other developers but didn't elaborate.

Commenting on ongoing projects, he said the company would complete its commercial and hospitality projects, located within the Pyramids Heights development of sister company Samcrete Development, in the second half of 2020.

He said the 70-unit commercial project with retail and restaurant spaces would be completed by October 2020, while the 270-key Hyatt Regency hotel and the 110-key Hyatt House hotel apartments would be completed in September 2020.

The Al Dau official said the company had delivered 250 residential units as part of the first phase of its 1.4 billion pounds ($89 million) Al Dau Heights mixed-use project in Hurghada.

The second phase, comprising of 150 units, would be delivered in 2020, he noted. The four-phase development, which will eventually have 1,000 residential units and a 25,000-square metre built-up area commercial mall is scheduled to be completed by 2027.

Elghamrawy said the company is on track to deliver 60 units as part of the first phase of Al Dau Strand residential project in Hurghada in the fourth quarter.

(1 US Dollar = 15.75 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)


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