Cairo -  Al Dau Development, a subsidiary of Sami Saad Holding, is looking to invest EGP 1 billion in a new residential tourism project under the name of “Al Dau Strand” in Hurghada,

Spanning over 25,000 square metres, around 40% of the project is completed, versus 60% of landscape, the company’s senior director of operations told Mubasher.

The project will be implemented in four years and will include 384,000 units, Mohamed Salem highlighted.

The company is currently building the second phase of another project named Al Dau Heights extending over 85,000 square metres with EGP 2 billion in investments, Sales noted.

The project will be completed within four years and will consist of 1,063 units, he added.

He stressed that the project will include a mall named Al Dau Village Mall over 22,000 square metres.

Al Dau Development announced last Friday the opening of a new Steigenberger Hotel in Hurghada.

The new hotel is named “Steigenberger Pure Lifestyle”, with investments amounting to EGP 350 million.

Translated by: Mai Ezz El-Din

Source: Mubasher Exclusive

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