Yafa Mac Touristic Company plans to launch the third phase of Emirates Heights in the North Coast in 2020, according to Ramy El Haggar, company’s CCO.
EL Haggar said in a press conference on Sunday that the third phase encompasses 3,000 units and will be developed within three years, adding that the company is currently developing the phase’s feasibility study.
Furthermore, El Haggar disclosed that the company also targets completing the first and second phases of the projects comprising of 2,400 units by the end of 2019.
He noted that Yafa Mac has sold the first and second phases of the project.
Emirates Heights spans over 230 feddan and is being developed over five phases. The company has delivered1,500 units and about 1,000 units are inhabited.
“The company has directed EGP 2bn in the two phases’ construction and will direct another EGP 400m in 2019/2020. The company will allocate EGP 200m in developing a large aqua park on 12,000 sqm and the company is negotiating with two foreign companies to develop the aqua park to become the biggest aqua park in Egypt,” El Naggar pointed out.
“Additionally, the company has achieved EGP 2bn in sales of the project targeting accelerating the construction of the project.”
Over and above, the company targets recording EGP 5bn in sales of the third phase of Emirates Heights.
The commercial director revealed that the company is preparing to launch a new residential and touristic project in Borg El Arab, Alexandria, on 140 feddan, noting that Yafa Mac will reconduct the new project’s feasibility study and pricing units.