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Tower Developments to begin work on new Egypt project

first phase is being built at a cost of $45.2m (E£800m)

Image for representation purpose only. The above image is an overview of ADFD projects in Egypt.
Image for representation purpose only. The above image is an overview of ADFD projects in Egypt.

Tower Developments, an Egyptian real estate company, is set to start work on the first phase of its flagship Tower Bay project in Port Said by May next year, said a report.

The first phase, being built at a cost of $45.2m (E£800m), will have a built-up area of 45,000m2, reported Amwal Alghad, citing a senior company official.

“This phase is to encompass about 325 various units,” stated Ahmed Lasheen, the chief executive of Tower Developments, TradeArabia News Service reported.

The company will soon sign construction contracts worth around $16.8m (E£300m) to execute the first phase within the next nine months, he added.

 

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