Cairo – Mubasher: Marseilia Almasreia Alkhalegeya Real Estate Investment said that no agreement has been signed yet concerning the establishment of two tourism projects in the Egyptian cities of Marsa Matruh and Alexandria.

The company is still conducting the required studies for building a 300-feddan tourism project in the North Coast in partnership with the land owner, according to a statement to the Egyptian Exchange (EGX) on Monday.

As for Miami project in Alexandria, the company will disclose any new details related to the project before entering into any agreements, the statement added.

On 31 August, Marseilia’s chairman Sherif Heliw revealed the company’s plans to form a partnership with a developer to establish a 300-feddan project in El Dabaa district in Marsa Matruh.

The top official added that a new project in Alexandria is forecast to be unveiled and offered by the end of 2019.

During the first half of 2019, the company’s net profits rose to EGP 3.31 million, compared to EGP 1.16 million in the year-ago period.