UAE-based Eagle Hills Properties has awarded an approximately 2 billion Egyptian pounds ($65 million) contract to Orascom Construction for the construction of Soul luxury beach resort on the North Coast of Egypt.

The agreement covers construction of parcels 3 and 4 (Flow – Breeze) within Phase 1A of the resort, Eagle Hills Properties said in a press statement.

Mohamed Al Abbar, Chairman of Eagle Hills Properties, and Osama Bishai, CEO of Orascom Construction were present at the signing of the contract.

The timeframe for be completion is 1,020 days from the start of construction, the statement said.

Soul features a 20-kilometre waterfront, a five-star hotel resort, serviced villas, and residences as well as retail, food and beverage, and outdoor sports zones.

“We are determined to introduce a new and unparalleled concept of leisure tourism in Egypt, which will support the government’s efforts to develop the Tourism and Hospitality sector, especially in the North Coast region,” the statement said, quoting Al Abbar. He emphasised that the company is eager to expand its investments in Egypt because of the considerable potential and the government’s incentives to promote investments.

(1 US Dollar = 30.92 Egyptian Pounds)

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.