Back to the complete issue
Wednesday, 26 September 2018

ERC launches new EGP 200 mn residential development in Sahl Hasheesh

ERC launches EGP 200 mn residential development in Sahl Hasheesh: Our friends at Egyptian Resorts Company (ERC) have launched a new residential project in the Red Sea resort town of Sahl Hasheesh. The Bay Village project — which will cost around EGP 200 mn to construct — will target local and foreign buyers in the second-home market, ERC said in a press release (pdf). The EGX-listed company expects to generate around EGP 390 mn from the sale of 185 residential units spread across nine building blocks constructed over 11,000 sqm. “The project further diversifies ERC’s product offering and establishes ERC as not just a master developer but also a leading real estate developer in the country,” said CEO Wael El Hatow. Construction on Bay Village should be complete by 2023.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.