Egyptian developer Manara Developments expects to complete and handover its 4 billion Egyptian pounds ($255 million) Bella Vento hospitality project in Galala City, Ain Sokhna by 2025, a company official said.
Board member Mahmoud Omar told Zawya Projects that the project includes 1,100 units and a 120-key five-star hotel and would be developed in four phases.
He added that they would deliver 200 units in mid-2022 and the whole project would be completed in four years.
The project consultant is Archgate, he said.
Omar said the company will invest 250 million pounds ($16 million) in the project in 2021 and target 1 billion pound ($64 million) in sales for the said period.
He disclosed that they are planning new hospitality project in New Alamein City in the upcoming period.
(1 US Dollar = 15.74 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
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