CAIRO:Egypt-based real estate developer Abraj Misr announced Monday the launch of its new project “The Shore” with an investment cost estimated at 1.5 billion EGP ($196.6 million,) according to a press statement.
The project is located in Hekma Bay Resort in the 186 KM on Alexandria-Marsa Matrouh desert road, and will be implemented on a 180- acre land bloc, the statement read.
“The Shore which affirms Abraj Misr commitment to opening new horizons for real estate development in Egypt… and comes in line with government plans aimed to develop this promising area known as New North Coast,” said Ali Rabei, chairman of Abraj Misr.
Rabei further expressed pride in contributing to reviving economy of the “New North Coast” area, developing its infrastructure and creating new jobs.
The Shore will include four housing neighborhoods; The Valley, Tuscany, Paphos and Malibu, designed in accordance with international quality standards, and inspired from Cyprian, Italian and California’s Malibu city.
It will also include a wide range of residential buildings designed on high terraces, and various types of residential units to meet all the needs and tastes.