Egypt-based Ajna to start building $191mln project end-2021

  • Date: 24-Nov-2020
  • Source: Zawya
  • Sector:Real Estate
  • Country:Egypt
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Egypt-based Ajna to start building $191mln project end-2021

Egyptian real estate firm Ajna Developments intends to commence the main construction of hospitality project Carnelia by the end of next year, Zawya Projects cited the company's Chief Commercial Officer Sherif Saleh on November 22nd.Ajna has already started the infrastructure works of the EGP 3 billion development, which spans an area of 100 acres in Galala Ain Sokhna City, Saleh added.Carnelia is expected to be completed by the end of 2026, the official said, noting that the project comprises 1,200 villas and chalets, in addition to a 50-key hotel.Saleh added that “Sites International designed the master plan, while Creato is the project consultant,” according to the news portal.Ajna will reveal a new residential project worth EGP 2 billion in 2021, the official stated.He highlighted that the new development spans 40 acres in the New Administrative Capital, while it will be carried out in partnership with another developer. Saleh did not disclose further details.The real estate firm reportedly achieved more than EGP 700 million in sales from Carnelia project during the first nine months of 2020.Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).