Hegaz Development invests EGP 1.2bn in 1st phase of Sokhna Hills Project

Daily News Egypt
2 Min Read

Chairperson of Hegaz Development Ibrahim Ahmed Al-Zawawi said that the company is developing the Sokhna Hills Project in Ain Sokhna on an area of ​​100 feddans and that it will be developed over three phases.

Al-Zawawi explained that the project includes residential units, a hotel, a commercial mall, and an athletic area, pointing out that the total investments of the first phase amounted to EGP 1.2bn.

He added that the first phase of the project includes 600 different units ranging from chalets, villas, and townhouses, noting that the completion rate of the first phase is approximately 50%.

Al-Zawawi also disclosed that it the company plans to deliver 90 fully finished units in the project within three months and 75 units within a year, in addition to delivering the rest of the units within two years, revealing that the company aims to bring in EGP 200m in sales by the end of this year.

For his part, Mohamed Makkawi — Marketing and Sales Manager of Sokhna Hills — said that the community is designed on a modern basis, and that the company provides various solutions and facilities in payment plans for clients.

The second phase of the project is scheduled to be delivered by the end of 2023, and the third phase in 2024.

In 1988, Hegaz Development started its work in the real estate market in Ain Sokhna and the Gulf of Suez. The company has developed a number of high-profile projects, including Hegaz Oasis and Dolphin Beach.

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