Tatweer Misr, an Egyptian real estate developer, has announced its business plans for 2022 in which it aims to deliver 2,000 units in IL Monte Galala, Fouka Bay, and Bloomfields projects by the end of the year, with total investments worth EGP 3bn.
The company strives to accelerate the pace of construction work at its projects in order to face the global inflation wave and the upsurge in the prices of raw materials. The company also aspires to achieve contractual sales of EGP 8bn by the end of 2022.
As for the company’s goals in terms of delivery and operation of residential and non-residential projects, Tatweer Misr aims to fully operate the first phase of IL Monte Galala this year, including the world’s first on-mountain Crystal Lagoon and the first phase of the beach. Additionally, Tatweer Misr will start delivering the first phase of the residential component of Bloomfields by the end of the year. It also aims to launch several new phases in these projects.
In addition, the company is eager to continue establishing more strategic partnerships with top-notch companies and service providers, both globally and locally, to emphasise Tatweer Misr’s vision of building sustainable, smart and happy communities.
The company also announced its most prominent successes during the past year. This includes the launch of the company’s latest project “D-Bay” in Dabaa area in the North Coast during the first quarter of 2021; which spans over an area of 200 feddan, with total investments of nearly EGP 7bn. It comprises around 1,800 units.
Tatweer Misr was able to reap contractual sales surpassing EGP 3.7bn in the first half of 2021, the highest last year. The company was able to achieve 100% of its target of EGP 8bn contractual sales.
Furthermore, one of the Company’s major achievements this year was the successful operation of the first phase of IL Monte Galala project during the second half of 2021 and the summer operation of Fouka Bay project for the third year in a row featuring the opening of Stanley Restaurant.
In terms of delivery achievements, 1,200 units have been delivered in IL Monte Galala and Fouka Bay projects. Also, EGP 3bn investments were pumped to cover several projects and divided as follows; EGP 2bn to IL Monte Galala, EGP 500m to Fouka Bay and EGP 500m to Bloomfields.
