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Tower Developments Aims for 35% Completion of Phase 1 ‘Tower Bay Project’ by Year End


According to  Daily News Egypt, Egyptian Real Estate firm Tower Developments has announced that they are aiming to complete 35% of the Phase 1 of the Tower Bay project by year end.

Tower Bay is being built on 102 feddan over four phases, CEO Ahmed Lashin added, noting that it is scheduled to complete the whole construction work of the project’s first phase by 2022.

Lashin revealed that the project’s investments reached EGP 5bn, plus EGP 1bn for a 5-star hotel inside the project, stressing that the project is self-financed.

“Tower Bay is a quantum leap in real estate and tourism investment sector in Port Said, which aims to enhance the status of the governorate on the global and regional tourism map, thus contributing to supporting national economy,” Lashin told Daily News Egypt.

 

Additionally, the company is developing a commercial administrative project on a total area of ​​13,000 sqm in New Cairo. The project’s construction works have been completed and the company will start the internal and external finishes within a few weeks.

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