Inertia Egypt signed an 8.5 year Modaraba Islamic financing contract with Banque Misr to grant the company EGP 1.1 bn, which will be used to fund the fourth phase of the company’s coastal project; Jefaira.
Jefaira is a fully integrated coastal city that spreads over 5.5 million square meters in the North Coast. The project holds a capacity of 12,000 to 14,000 units with total investments reaching 66 bn EGP. The development offers a wide range of services: from medical to educational and entertainment services. This makes it an all-year round destination, without being limited to summer seasons or holidays.
In 2017, Inertia started construction works in Jefaira which is strategically located 200 km west of Alexandria and 100 km east of Marsa Matrouh. The project’s strategic and distinguished location ensures the easy access to all major roads, El Alamein International Airport and El Dabaa Road making it a major central point on the coast line, which will promote and maintain the economic development in Ras El-Hikma.
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