By Hamed Mahmoud
Eng. Ahmed El-Attal, Chairman of the Board of Directors of El-Attal Holding, announced that their latest project “Bayside” in Ras Sudr will be launched for sale during the Real Gate Exhibition, which will be held from the 25th to the 27th of this month. El-Attal announced that construction works for the project started in early 2020, with one billion pounds in investments. Bayside extends on an area of seven acres, and consists of 170 furnished, fully-serviced apartments, and a 40-room hotel, designed to inspire a true Maldivian experience, with state-of-the-art facilities and services in harmony with direct sea views available for all units within the project.
“El-Attal’s strategy focuses on developing real estate projects in different locations in line with Egypt’s development plans. Ras Sudr in South Sinai is a promising destinations and a unique untapped investment opportunity, thanks to its picturesque nature, a God-given gift that is sufficient to make it one of the most attractive touristic destinations in Egypt.”
Ahmed El-Attal, Chairman of El-Attal Holding, emphasised on the company’s vision. Moreover, he explained that the city of Ras Sudr has witnessed major infrastructure developments recently, especially with the new roads and tunnels built under the government’s initiative to develop and revive the entire Sinai Peninsula. This will significantly reduce the time required to travel to Ras Sudr, and will facilitate creating an exceptional investment opportunity, as well as a destination that attracts tourism to this area.
Moreover, Ahmed El-Attal revealed that the construction works have been concluded, and that Bayside is at the finishing phase currently, and that the entire project will be available for sale during El-Attal’s participation at The Real Gate Exhibition this month. El-Attal plans to start the delivery phase during Q4 of this year, with LE500 million of targeted sales for Bayside by the end of 2021.
On another front, Eng Mohamed Al-Attal, CEO of El-Attal Holding, announced the launch of the fourth and final phase of “PARKLANE” in the New Administrative Capital; a mixed-use project that includes administrative and commercial units. Muhammad El-Attal declared that 85% of the first phase, 95% of the second phase, and 90% of the third phase have been sold. Moreover, the company was also able to sell over 27% of this project to foreigners. In addition, 50% of the construction of phase I is done, and is planned to be fully completed throughout this year, along with 15% of the second phase. Construction for all four phases of “PARKLANE” is expected to be fully completed by the end of 2023.
“PARKLANE” is the company’s first project in the New Administrative Capital, with four billion pounds in investments. The project is built on an area of 27 acres in the R7 area, featuring a total of 1100 units including duplexes, penthouses and studios, along with administrative and commercial units. El-Attal Holding introduced “PARKLANE” as the first modern urban community that brings Egypt’s authenticity and future ingenuity together. The company invested more than LE250 million in construction works over the past year, and allocated LE150 million to push construction works forward during 2021.
