Abu Soma Development Company and Redcon Construction have signed a Memorandum of Understanding (MoU) to build more than 2,000 residential units and luxury hotels within the Red Sea project at a total investment of USD 35 mln.
The MoU establishes a framework for the construction of a diverse array of residential and commercial developments, including Blanca, Bay West Valley, Bay Central, Reef Town, Coves 2, and Nautilus, Abu Soma Development Company said in a press statement.
In addition to the residential projects, the MoU encompasses several fast-track developments including restaurants, beach clubs, schools, and a variety of other facilities in the integrated community.
