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Egypt’s Madaar Development has launched a new resort project Azha North on the North Coast at an initial investment of 16 billion Egyptian pounds ($847 million).
Gasser Bahgat, CEO, Madaar Development told Zawya Projects that Azha North is beng built on 250 acres of land in Ras Al-Hikma Bay.
Azha North located at Kilo 212 Alex-Matrouh Road in the Ras El Hekma Bay area, 73 km from Marsa Matrouh.
Bahgat said the project features apartments and serviced villas, a 5-star waterfront hotel, a 650-metre beach, a sports club, and 40,000 square metre shopping and entertainment complex, adding that WATG and Crystal Lagoon are the main consultants.
(1 US Dollar = 18.90 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
(anoop.menon@lseg.com)