Egyptian builder Jumeirah Real Estate Investment and General Trading Company and Sakan Developments reported the launch of Jumeirah Bay Ras El Hekma venture, situated in the center of Ras El Hekma bay on the North Coast.
The venture will be based on 6m sqm with financing up to 15 billion Egyptian Pound. This project will add to fortifying the tourism land segment in Egypt to give a touristic, amusement venture that is matching to the significance of the area.
Jumeirah executive Sherif Helyo said that construction development is booked to start in the last quarter of 2016.
Helyo included that the venture comprises of three stages and seven different local areas. The primary phase of the undertaking, comprising of 980 units, will be turned over by December 2019.
A master plan will be revealed at the appointed time with the timetable for the succeeding stages, Helyo said.
“The project venture includes a waterfront and a panoramic perspective of the ocean and a 2,000 meter long shoreline,” said Helyo. “It additionally will give many job openings and draw in more investment projects to build up the surrounding area.”
Mr. Ahmed Haggag, Jumeirah’s vice chairperson for this project said the undertaking gives an overall 3,500 lodging units enveloped by green spaces and open areas, representing to around 85% of the overall project size.
Haggag included that the undertaking additionally gives a wide range and comprehensive range of facilities and services like a worldwide 5-star luxury lodging, Marina Park, shopping center, well known business market, private shoreline, swimming pools, cafes and restaurants, and a club on the shoreline.
Jumeirah Real Estate Investment and General Trading Company is an Egyptian real estate company that was built up in 2015 .
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