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Phase 2 will be delivered by end of 2024
Egypt’s Residence Developments has launched the fourth phase of its 6 billion Egyptian pounds ($124 million) Aroma project in Ain Sokhna on the Red Sea coast, the companys CEO said.
Wael Alshahed told Zawya Projects that the 25-acre fourth phase will contain 500 residential units, and target EGP 2.5 billion ($52 million) in sales revenue.
Aroma is spread over an area of 85 acres and includes villas, chalets, a hotel, and restaurants.
Alshahed said the 110-unit third phase will be completed by the end of this year while the fourth phase would be completed after three years.
He said that they are planning to pour additional EGP750 million ($16 million) into construction works for Aroma in the last quarter of 2024 after investing EGP 500 million ($10 million) from the start of the year till July 2024.
(1 US Dollar = 48.32 Egyptian Pounds) |
