Egypt's El Gouna launches Fanadir Shores project, targets 2027 delivery
Construction is expected to take one year, with delivery planned within two years, the company said in a press statement.
The luxury residential project features 57 units spread across seven buildings with direct access to the sea and a private lagoon for boats, according to the statement. Unit sizes average 220 square metres with prices starting from $2.6 million to $4 million.
In 2024, El Gouna recorded 11.8 billion Egyptian pounds ($234 million) in sales, up 63.8 percent from the previous year. Revenue rose 25.6 percent year-over-year to reach EGP 6.3 billion ($125 million). The developer delivered 371 units in 2024 and plans to deliver 410 units in 2025.
(Writing by Marwa Abo Almajd Editing by Anoop Menon)
(anoop.menon@lseg.com)
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