PHOTO
Egypt's Al-Attal Holding will deliver its one billion Egyptian pound ($64 million) Bayside in Ras Sudr project after 30 months, the company Chairperson Ahmed El-Attal said.
Bayside extends on an area of seven acres, and consists of 170 furnished, fully-serviced apartments, and a 40-room hotel.
El-Attal said construction works started in early 2020 and the company is targeting sales of 500 million pounds ($32 million) in the the current year.
YBA Architect is the designer while Hany Saad Architect is responsible for the interior designs.
He also disclosed that the company has completed 15 percent of the construction works for Phase 2 of its Parklane project in the New Administrative Capital, while Phase 1, which is 50 percent complete, is on track to be completed before the end of the year.
The 27-acre, 4-billion pound ($250 million) residential project features 1,100 units, and is scheduled for completion in the first quarter of 2024.
El-Attal said the company has invested more than 250 million pounds ($16 million) in construction in 2020 and has injected 150 million pounds ($9.6 million) to drive development works forward through 2021.
"ATTCON Construction, our construction arm, has built a central mixing station with a production capacity of roughly 6,000 cubic metres to meet all of the project’s needs," he said.
(1 US Dollar = 15.70 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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.
© ZAWYA 2021
