Egyptian real estate developer MBG Developments has unveiled Dorra Bay, a co-development venture with the New Urban Communities Authority (NUCA) in Ras El Bar city, Damietta governorate. Covering forty-two feddan, the project encompasses two thousand residential, commercial, and serviced units, a hotel, a commercial mall, and swimming pools. With a total investment of 10 billion Egyptian pounds ($323.6 million), the project, designed by Yasser Al Beltagy Architects with interiors by Hany Saad Innovations, awaits building permits after receiving ministerial approval. MBG plans to commence construction by the end of the first quarter of the upcoming year, delivering the entire project within four years. The company's current investments in Egypt's real estate market amount to approximately $1.6 billion, including projects in the New Administrative Capital and a partnership project with NUCA.
MBG Developments Chairperson announced the acquisition of a new sixty-five feddan plot in the New Administrative Capital for the company's fifth project, focusing on residential and commercial development. The company anticipates delivering units in the Pukka project, its inaugural venture in the New Capital, next year.