Cairo – Mubasher: Egyptian Resorts Company (EGTS) has announced that the sales and reservations of its Bay Village project have reached EGP 181 million.

Around 56% of the project’s units were sold and reserved, according to a bourse statement released on Tuesday.

The project’s total cost amounted to EGP 200 million, according to a filing to the Egyptian Exchange (EGX).

The project covers an area of 11,000 square metres with a built-up area (BUA) of 21,400 square metres, and it is close to Tawaya project.

EGTS, one of Egypt’s leading master and real estate developers, expects to generate total revenue of EGP 390 million from the project. 

The EGX-listed company succumbed into losses during the first quarter of 2019, recording net consolidated losses of EGP 5.52 million in the January-March period of 2019.