Emaar Misr launched sale for The Address Beach Resort at Marassi, reportedly selling 100 units for a total of EGP1bn on the first day on 13 July, according to the company’s sales team. The project features fully finished five-star branded hotel apartment units. Units’ sizes range from 100 to 289 sqm, while prices range from EGP9mn up to EGP45mn, implying EGP65,000-105,000 per sqm. Deliveries will take place by 2022. The company also launched sales for other apartment units by the marina area, including 126- to 443-sqm apartments, with prices ranging EGP5-32mn, to be delivered fully finished also by 2021. Payment plans stretch over seven years and include a 5% down payment, another 10% within three months and 10% upon delivery. 
 
Emaar Misr: EGP4.12 as of 16 Jul. 2018, Rating: Buy, TP: EGP5.60/share, MCap: USD1,046mn, EMFD EY/EMFD.CA