Remco for Tourism Villages Construction (RTVC) of Egypt has entered into a partnership with real estate developer Emaar Alex to undertake a significant project in the North Coast region. The collaboration was announced by the company on Sunday, highlighting their joint efforts to develop a project in Al Alamein’s Sidi Abdel Rahman area. The project, expected to be completed within a three-year timeframe, is estimated to have a value of 1 billion Egyptian pounds.
Spanning an expansive area of 29.4 acres, the project aims to contribute to the growth and development of the North Coast region, a popular destination known for its picturesque landscapes and coastal attractions. With a total projected sales value of 1.5 billion Egyptian pounds, the venture will be self-financed by Remco, underscoring the company’s commitment to the successful execution of the project.
The collaboration between RTVC and Emaar Alex signifies the shared vision of both entities to drive the real estate sector’s progress in Egypt. By leveraging their combined expertise and resources, the partners aim to deliver a high-quality development that meets the demands and aspirations of the market. The project’s strategic location in Al Alamein’s Sidi Abdel Rahman area presents opportunities for creating a vibrant and sustainable community.
As Egypt’s tourism sector continues to recover and attract domestic and international visitors, ventures like this project contribute to the country’s economic growth and job creation. The development is expected to enhance the appeal of the North Coast region, offering residents and visitors an array of modern amenities and facilities.
With RTVC’s proven track record in the tourism and construction sectors and Emaar Alex’s expertise in real estate development, the collaboration holds promise for the successful realization of the project’s objectives. The partners are committed to adhering to the highest standards of quality, design, and sustainability, ensuring the creation of a valuable asset that enriches the North Coast region’s real estate landscape.
The signing of the agreement marks an important milestone in Egypt’s ongoing efforts to foster collaboration and attract investments in various sectors, driving economic growth and promoting sustainable development. The project’s completion will contribute to the continued expansion of Egypt’s real estate market and reinforce its position as an attractive investment destination.
