15 August, 2019

Design work for El Attal's mixed-use project in Ain Sokhna in the final stage - Chairman

Developer launches third phase of Park Lane project in Egypt’s new capital

Image used for illustrative purpose. Architect rolls and plans.architectural plan,technical project drawing,Architecture planning of interiors design on paper,construction plan ,close up on constructions blueprints,architectural desk

Image used for illustrative purpose. Architect rolls and plans.architectural plan,technical project drawing,Architecture planning of interiors design on paper,construction plan ,close up on constructions blueprints,architectural desk

REUTERS

15 August 2019
Design work for El Attal Holding's 2.5 billion Egyptian pounds ($150.5 million) mixed-use project in Ain Sokhna is in the final stage, the company chairman said.

Ahmed El-Attal told Thomson Reuters Projects last week that the project would be developed over an area of 48 acres.

"We plan to start development work in the fourth quarter and complete the project over four years," he said without disclosing detailed timelines and the total number units in the project.

In May, Thomson Reuters Projects had reported that the project would comprise of residential and hospitality components.

Last week, the company launched the third phase of its four billion Egyptian pounds ($241 million) Park Lane project in the New Administrative Capital.

"We are awaiting ministerial approval to start construction," El-Attal said, adding that the first phase is expected to cost of 1.8 billion pounds ($108 million).

In February, he had told Thomson Reuters Projects that construction of the 26-acre project was expected to start in June this year.

(1 US Dollar = 16.61 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019