UAE-based Eagle Hills Properties has awarded a 1.97 billion Egyptian pounds ($64 million) construction contract to Hassan Allam Construction for its Soul luxury beach resort on the North Coast of Egypt.

The construction contract covers parcels 1 and 2 (Views – Island) within Phase 1A of the resort, a joint press statement said.

The timeframe for be completion is 960 days from the start of construction, the statement said.

Mohamed Al Abbar, Chairman of Eagle Hills Properties, and Hassan Allam, CEO of Hassan Allam Holding were present at the signing of the contract.

The 580-acre Soul Luxury Beach Resort masterplan includes a sandy beachfront that extends for 1.5 kilometres and covers an area of 300,000 square metres; beach mansions; water-front lagoons, beach boardwalk, and an infinity pool on a pier.

Last month, Eagle Hills Properties awarded an approximately $65 million contract to Orascom Construction for the construction of parcels 3 and 4 (Flow – Breeze) within Phase 1A.

(1 US Dollar = 30.84 Egyptian Pounds)

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

(anoop.menon@lseg.com)

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