Egyptian developer PRE Developments has launched its mixed-use Jebal El Sokhna project in Ain Sokhna, a top company official said.

Managing Director Hashem El Kadi told Zawya Projects that the project included 1,350 chalets and villas, 22 pools, a 5-star hotel, and a 10,000 sqm commercial mall.

He said the project's residential component would be developed at an investment of about 2.5 billion Egyptian pounds ($160 million) but declined to elaborate on project timelines and tenders.

PRE is also planning to launch a 12-tower commercial project Stone Street in the Fifth Assembly in November, El Kadi added.

(1 US Dollar = 15.66 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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