Developer X, a subsidiary of the Shoura Group, has announced its obtaining ministerial approval for the development of Bianchi Ilios project in North Coast.
Ahmed Fouad, CEO of Developer X, said that the company undertakes all development work, including planning, designing, developing, and marketing for the project.
He added that the project is scheduled to be constructed and delivered within four years.
Fouad pointed out that the project is located on an area of 115 feddan in the North Coast, explicitly in Sidi Abdel Rahman. Bianchi Ilios project comprises chalets, villas, twin houses, townhouses, a 5-star hotel, lakes, and an entertainment area, as well as a commercial area that provides integrated services to clients.
Fouad stated that the company has a plan to speed up the construction process and deliver the project in accordance with specific quality standards, with the use of the latest construction methods and in cooperation with strong entities in different specialties to achieve this goal.
Developer X is currently negotiating with the three largest contracting companies in the Egyptian market to develop the project, according to Fouad.
The company’s CEO highlighted that Developer X plans to begin construction within the next few weeks.
Fouad revealed that Developer X is currently conducting negotiations with an international hotel management company, to manage the project of serviced apartments and the entertainment area within the Bianchi Ilios project.
“The company we are negotiating with is one of the largest global brands in hotel management, which manages more than 650 hotels around the world, and it will be present for the first time in Egypt in cooperation with the X Developer,” he disclosed.