Crystal Lagoons has landed a duo of prestigious Egypt projects in developments worth almost US$2 billion, including a contract to develop North Africa’s largest ever water-based leisure attraction.
The company has been contracted for the six-phase Bo Islands project being developed by Maxim Real Estate, part of Maxim Holdings group of companies.
Located on the Alexandria-Marsa Matrouh north coast road, the upscale tourism and residential community will cover an area in excess of 10 million square metres and is being developed at a total investment cost of around $1.8 billion.
“This will be our largest North Africa project to date, with 32 hectares of crystalline lagoons, which once completed, will be the largest manmade lagoon in the region. This is a phenomenal undertaking and one that we are eager to get off the ground as soon as possible,” said Carlos Salas, regional director, Middle East, Crystal Lagoons.
Phase one of the project, equal to 10% of the total area, will cost an estimated $455 million and is expected to be completed in Q1 2018. Phase one will comprise of 17.5 kilometres of powder-white sand beachfront complemented by an impressive 32 hectares of sparkling lagoons, which will be home to a host of unique water-based activities.
The development will be home to 1,115 top quality standalone villas and chalets, along with two luxury waterfront resort hotels offering 300 guestrooms, and an array of five-star services from world-class restaurants and state-of-the-art health and fitness facilities to waterfront retail and an electronic tram system.
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