United For Real Estate Development launched its latest project, G-Bay, in Ain Sokhna, according to Chairperson Mohamed Al-Zaabalawy.
Al-Zaabalawy said that G-BAY is a residential project in Ain Sokhna on Zafarana Rd. with an area of 115,000 sqm and includes three basements and 880 chalets with various areas, starting from 75 to 150 sqm. Additionally, the project comprises a service area and a complex of cafes and restaurants.
He added that the company is scheduled to complete the entire concrete structure of the project within two years as well as the water and green areas, and that delivery would be within three years from the start of work on the project’s site.
Al-Zaabalawy also revealed that the company has contracted with Al-Bunyan Engineering Consultants, Arcrete for Engineering, and Al-Mansoura for contracting and Electromechanical works.
He further noted that the company aims to achieve 50% of sales in the first six months of launching the project.
The company’s chairperson also revealed that construction work is underway on the G3 Mall project, which is the company’s first establishment in the New Administrative Capital (NAC), in addition to the presence of a package of projects under study in the North Coast, the NAC, and Sheikh Zayed.
Furthermore, the company has a specialised department to conduct studies and research on the real estate market and its needs and make a decision based on these findings to invest in the most suitable areas, he concluded.
United For Real Estate Development has a precedent of real estate projects in Mahala City in Gharbia and New Cairo.