Metawee Group for real estate investment has launched a new project named “Blue Blue”, worth EGP 750m in investments.
The new project is considered to be “a step to support the Egyptian economy and develop the real estate market in Egypt, given that real estate is the fastest growing sector and the backbone of the economy and investments”, a statement from the company read.
“Blue Blue” is located in Ain Sokhna, and covers a space of 121,000 sqm. The project includes 700 residential resort units, with areas that start from 100 sqm to 300 sqm.
The EGP 750m is self financed, according to Mohamed Metawee, CEO of the Group.
Concerning the job opportunities that the new project is providing, Metawee indicated that the skills of 120 supervisors and engineers will be utilised until the project’s finalisation. He added that through the project’s operations, 5,000 daily jobs are being provided.
Metawee said the project’s registration process will start this July, allowing clients to pay in instalments starting from 10%, with payments made over up to five years.
The delivery of the project will take place within three years, whereby the project is divided into four areas, including: Lake View; Water Front; Sea View; and Island.
Metawee Group was established in 1998, and works in the fields of real estate, tourism investment, and development. Its current projects include “Sky View”, located in the Fifth Settlement, and “La Vida” compound, located in Heliopolis.