Tatweer Misr launched the first phase of its “IL Monte Galala” project in Ain Sukhna on Wednesday.
With an initial investment of $250m, phase one of the project will include residential and hotel units, which will be completed by 2019. The project is expected to build over 5000 units in some ten years.
“IL Monte Galala-Sokhna is positioned to become a local and international destination of choice, offering unparalleled activities and lifestyle options based on their unique vision of building value that goes beyond the integration of Ain Sokhna’s stunning natural beauty into the project’s urban design”, according to a company statement.
Situated over 2.2 million sqm of the Galala Mountain, the development will offer distinctive zones that focus on providing unique leisure and entertainment experiences yet to be offered in Egypt.
Discussing the project’s importance, Managing Director and Member of the Board at Tawteer Misr, Ahmed Shalaby, said, “At Tatweer Misr we are committed to building value and, as such, providing more than just a residential destination”.
The project has a wide variety of units, from 80 sq metre chalets to 400 sq metre villas, said Shalaby.
IL Monte Galala will be developed in partnership with both local and international industry leaders, including the international architectural company 5+1AA.
Discussing the project’s master plan, the Technical Director and partner of 5+1AA, Gianluca Peluffo, said, “The carefully designed master plan of the development offers three distinct leisure and entertainment areas at different levels of the development; sea front, mid-level and high altitude”.
“We will start with some entertainment and commercial units in order to market the project, with delivery set for next year”, Shalaby added.
“The project is a second home destination, but we are targeting, in the second phase, to build first homes, as this region is developing and is expected to be an urban city, while it is located only 30 minutes from the new administrative capital”.