Egyptian builder launches $1.6bn Jumeirah Bay
Jumeirah Bay is designed to offer panoramic sea views that can be enjoyed from every corner of the resort
Egypt-based Jumeirah Real Estate Investment and Sakan Developments launched Jumeirah Bay - Ras Elhekma, spread across six million square meters, worth $1.6bn.
Sami Abdul Rahim, CEO of Jumeirah Real Estate company, said: "The project is considered to the company's partnership with Sakan Developments to establish tourist project in Ras Elhekma- North Coast."
The implementation of the project would start during the last quarter of 2016, and would include seven different neighborhoods with 3,500 units, a hotel, and a club to be completed over three phases.
The company would deliver the first phase with 980 units by December 2019.
Jumeirah Bay is designed to offer panoramic sea views that can be enjoyed from every corner of the resort, and the sea can be viewed in its entirety from the beginning of the resort two kilometers inland all the way to its end.
Ras Elhekma offers one of the largest bays on Egypt Mediterranean Sea, sprawling over 50km of land into the sea.