Egyptian developer presses ahead with $1bn project

14 March 2017

Five contracts to build a total of 1,800 residential units to be awarded before the final quarter of this year

Egypt’s Tatweer Misr is set to award five construction packages for work on the first phase of its Il Monte Galala project by September this year.

According to sources working on the scheme, the developer awarded the first package to local contractor UPTC in December last year, with the remaining contracts to build a total of 1,800 residential units to be awarded before the final quarter of this year.

The first phase, which will cost up to $250m, will be made up of 1,800 residential units and hotel development.

The hotel is currently in the design concept stage although an agreement with Thai hotel operator Six Senses was signed earlier this year. The architect working on the hotel’s concept designs is Italy’s 5+1AA.

The main consultant on the project is the local Shaker Group, while a newly established local firm, Chrome, is the serving as the scheme’s project manager.

In late last year the developer also signed an agreement with Chilean engineering firm Crystal Lagoons for the development of a lagoon that connects to the sea at the project.

The Il Monte Galala mixed-use project, which is being developed 120 kilometres west of Cairo in Ain al-Sokhna, will be launched over three phases featuring about 5,000 housing units and two hotels.

The first phase is expected to be completed by 2021, with the second and third phases likely to be delivered by 2025. 

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