Wadi Degla Developments is launching a new EGP 2 bn residential project in Ain Sokhna, CEO Maged Helmy announced at the CityScape Egypt real estate conference yesterday, Al Mal reports. The compound will span 600k sqm, Helmy said, but did not clarify when the project is expected to be completed. Helmy also said the company has completed around 5-10% of its EGP 1.1 bn Promenade New Cairo compound, which was launched in February.

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