EGYPT – Tatweer Misr, an Egyptian Real Estate company, has announced its expansions in the North Coast, as part of its strategy to increase its geographical footprint across the country.
The company aims to develop a 200-acre land in partnership with Kayan for Real Estate Development, under the name of “D-Bay”, on the Mediterranean with initial investments exceeding EGP 7 billion (US$.
D-Bay aims to increase Tatweer Misr’s overall land bank with approximately 845,000 sqm, adding up to more than 5.8 million sqm. The development is set to be located overlooking the crystal blue Mediterranean Sea with an 800-meter-long shoreline and a lagoon, where every home is a waterfront home as an extension to Fouka Bay’s unique masterplan design.
“The establishment of D-Bay is a step closer towards achieving our ultimate vision of developing sustainable, smart and happy communities while being geographically widespread to ensure that we are offering our clients luxury-standard living in diversified locations” stated Dr. Ahmed Shalaby, President & CEO of Tatweer Misr.
“The new project comes in line with the governmental direction of transforming the Egyptian North Coast from a summer destination to an all-year round destination according to the 2052 vision.”
Tatweer Misr also revealed its rebranding during its press conference held to announce the company’s expansions in the North Coast.
The new branding marks the beginning of a new era of “Tatweer Misr Creating Destinations”; it symbolizes the journey of Tatweer Misr, starting from being a newly incepted company and progressing into a more mature and well-established company that acts as a major contributor to the Real Estate sector and the Egyptian Economy as a whole.
Located near 165KM on Alexandria-Matrouh Road in AlDabaa area, the latest development in Tatweer Misr’s portfolio features more than 1800 units ranging from chalets, villas and serviced apartments. The company has also announced that it targets to develop the project over a period of six years.
Dr. Shalaby stated that D-Bay is the latest addition to Tatweer Misr’s journey and is considered an extension of Fouka Bay that established itself as one of the most remarkable destinations in the North Coast following its operations in summer 2020.
“Since our establishment we were able to develop successful and pioneering projects as a result of extensive expertise, teamwork, and a network of business partners who enabled us to achieve this reputation. Therefore, we will continue to work hard and progress, contributing to the economic growth,” he added.
“Leveraging on previous success, we will continue to collaborate with our partners of success ensuring that Tatweer Misr’s clients experience world-class quality.”
Tatweer Misr’s portfolio also features a wide array of projects in diverse locations, all featuring innovative design concepts and different personas.
The projects are: IL Monte Galala, located on the Galala mountains, spanning over 545 acres, Fouka Bay, in Ras El Hikma, North Coast on an area of 220 acres and Bloomfields in Mostakbal City and adjacent to the New Administrative Capital.
The mixed-use project spans over 415 acres split into 325 acres for the residential, commercial and administrative area and 90 acres dedicated to become an educational zone.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE