By: Abdullah Bedeir

Cairo – Mubasher: New Jersey Developments has launched Jura El-Galala project in Ain Sokhna with investments of EGP 1 billion. 

Spanning over an area of 10 feddans, the project is comprised of a ground floor and four storeys featuring serviced units, the company’s Chairman, Gerges Youssef, said in a press conference.

El-Galala City was chosen for the project as it is Egypt’s most promising investment area which enjoys unprecedented support from the government, Youssef noted.

The chairman expects the delivery of the project to be within two years and a half from the project commencement date which will be by the beginning of 2021.

On a side note, Youssef said that the company’s investments in its project in the new administrative capital amounted to EGP 1.5 billion.

About 25% of the construction works of the new capital project has been implemented with completion scheduled within two years.

Youssef further revealed that New Jersey Developments is looking to invest EGP 200 million in its new capital project during 2020.