To Accelerate the Pace of Construction & Delivery at IL Monte Galala’s.

Tatweer Misr Awards Kharafi National construction works Worth EGP 1.5 Billion

Cairo – December 18, 2022

Tatweer Misr, one of the leading real estate development companies in Egypt, announced awarding Kharafi National- world-class integrated construction, facilities management, and fabrication services provider- construction works worth EGP 1.5 Billion in IL Monte Galala project, located in Ain Sokhna, to accelerate the pace of construction & delivery in the various stages of the mega project.

This contract goes in line with the increasing demand for IL Monte Galala leveraging its unique strategic location and distinctive masterplan and architectural design giving all units a marvelous view of either the Red Sea, its majestic mountains or the Crystal Lagoon. The project asserts Tatweer Misr’s confidence in the Egyptian economy, which encouraged the company to pump huge investments with the aim of transforming Ain Sokhna to an all-year-round destination in line with the government’s strategic direction for new coastal cities.

The Contract was signed by Dr. Ahmed Shalaby, President and CEO of Tatweer Misr, and Engineer Elia Saber, the Executive Manager of Kharafi National, in the presence of Engineer Baher Ayoub, Senior Vice President, CEO projects and Board member at Tatweer Misr, in addition to a number of executives from both companies.

According to the agreement, Kharafi National will be in charge of executing the huge construction works in 6 phases of the project. The awarded zones include “Phia”, which extends over 16 acres and is distinguished by a unique architectural style comparable to the Greek islands, with a construction and engineering style that simulates the famous island of Santorini, encompassing 504 units overlooking the charming water and ambiance of the Red Sea. “Maesta”, which is the highest point in the project with a height of 210 meters above sea level, gated community providing privacy to its residents allowing them to enjoy an exceptional climate and a charming view of the sea.

The agreement also includes “Sistiana “, which is considered one of the most exclusive and luxurious phases in IL Monte Galala. “Sistiana” is built on an area of 13.5 acres and encompasses 58 single family homes; villas and twin houses, with various areas ranging from 205 to 500 square meters, with a height ranging between 98-128 meters above sea level, where all the units overlook the sea as well as the Crystal Lagoon. This exclusive phase is going to be also a gated community with its private clubhouse, swimming pool, and a children’s play area.

“The Company’s executive management chose to award the largest contract in the history of Tatweer Misr to Kharafi National, in alignment with our business objective to increase the number of delivered units from 1,500 to 2,000 units annually.” Said Dr. Ahmed Shalaby.

From His side, Eng. Baher Ayoub commented,” The decision to choose Kharafi National was based on their long and extensive experience in major national projects with unmatched execution rates and international quality, which will be reflected in the implementation of the various stages of “IL Monte Galala”.

From his side, Engineer Elia Saber said, “The cooperation with Tatweer Misr opens new horizons for us and is an added value to the two companies, which will definitely reflect on the progress and success of the project. We consider this agreement a step on the way to continuous and successful cooperation in the future.” He also emphasized the completion of the work entrusted to Kharafi National according to the agreed deadlines, leveraging the company’s huge capabilities, resources, and competencies qualifying it to complete giant projects at standard execution rates and international quality.

IL Monte Galala project is located on the Galala Mountains in Ain Sokhna spanning an area of 2.2 million square meters (535 acres). The project encompasses 10,000 units, including hotel room & serviced apartments.

The project possesses a privileged location in Ain Sokhna and is close to the Administrative Capital, the Suez Canal axis, and the city of Galala, becoming a commencing point of development in eastern Egypt. The entire project was carved in the Galala Mountains with designs inspired by the Italian city’s Portofino. Moreover, the project also incubates the world’s first mountain top Crystal Lagoon that has started operations during the last quarter of 2022. in addition to Egypt’s first Base Camp, which is a mountain climbing resort that was established in cooperation with the renowned mountain climber and adventurer Omar Samra.

It is worth mentioning that Kharafi National is one of the largest companies operating in the Egyptian market in the integrated contracting sector, such as infrastructure works and public utilities, particularly water and sewage networks, gas and fuel, construction and operation of power stations, electromechanical works, and general contracting.