People & Places (P&P), up and coming community maker renowned for its visionary real estate developments, is pleased to announce a new construction contract with Alubuilders Egypt (ABE) to expedite the development of its flagship North Coast project, The Med Ras El Hekma. The contract focuses on accelerating the concrete works and external finishes for The Gray Beach Hotel and Residences and The Mediterranean Villas.
With a combined investment of EGP 7.3 billion across a 162,659 square meter land area, this phase of The Med represents a significant milestone for People & Places. By contracting Alubuilders Egypt (ABE) alongside other contractors, People & Places is committed to timely delivery and exceptional quality.
The Mediterranean Villas, a luxurious residential component of The Med, is on track with Phase 1 and 2 comprising almost 91 villas for the first delivery in 2026. The Gray Beach Hotel and Residences are progressing rapidly with Phase 1 and 2 comprising 110 cabanas and The Gray Hotel, with 40 rooms, both scheduled for delivery in 2025.
“We are pleased to team up with Alubuilders Egypt (ABE) to accelerate construction at The Med,” said Karim El Assal, Founder at People & Places. “This collaboration reinforces our commitment to delivering world-class projects that exceed our customers’ expectations. We are confident that Alubuilders Egypt (ABE)’s expertise, combined with the efforts of our other contractors, will contribute significantly to the successful completion and on-time delivery of The Gray Beach Hotel and Residences and The Mediterranean Villas.”
From Alubuilders Egypt (ABE), Mr. Mohamed Hussein, Chairman, expressed enthusiasm for collaborating with People & Places, a leading developer in Egypt. Mr. Abdel Moneim Ghita, CEO, shared the company’s aspiration to expand its business volume through a strategic partnership with such a prominent player in the market.
As People & Places’ inaugural and flagship project, The Med Ras El Hekma has garnered significant attention. This year, for the second consecutive year, The Gray Beach Club will open its doors this month to welcome clients and community members, offering exclusive hospitality by the crystal-clear waters, complemented by world-class amenities and unparalleled service.
The company’s substantial land bank of 2 million square meters and a total investment portfolio exceeding EGP 110 billion, encompassing both The Med and Hills of One, solidify its position as a key player in the Egyptian real estate landscape.
