Horus Real Estate reaches 50% completion on The Eye project

Horus Asset Management and Real Estate Development has announced significant progress on its The Eye project located in Egypt's North Coast. Construction completion rates have reached between 40% and 45%, with several structural items approaching 50%.

The project focuses on the comprehensive redevelopment of an existing village, aiming to modernize infrastructure and services while maintaining a family-oriented atmosphere. The company plans to complete the entire concrete structure by the end of 2026, with final deliveries scheduled for late 2028.

Abu Zeid Mohamed, Chairman of Horus Real Estate, stated that the strategy prioritizes essential infrastructure, including sewage networks, power stations, transformers, and water tanks, to serve current residents before expanding to new units. Planned amenities include five swimming pools, an aqua park, a commercial mall, restaurants, and a mosque, which was completed and opened in less than three months.

Legal advisor and board member Adham Baha confirmed that the project has fulfilled all necessary legal requirements and licenses. The company signed its final contract with the New Urban Communities Authority on July 7, 2024, following ministerial decrees published in the Official Gazette.