(Details about hotels added in the 4th paragraph)

Egyptian developer Jumeirah Egypt intends to launch its 7-billion Egyptian pound ($447 million) Naia Bay hospitality project, located in Ras El Hekma on the North Coast, by the end of July 2021, the company CEO said.

Hisham Eldanasoury told Zawya projects that Naia Bay, spread over an area of 470,400 square metres, includes a hotel, branded residences, villas, chalets, an entertainment area, and a strip mall.

He said the project, to be completed by 2026 in two phases, will include 720 residential units, a 5-star hotel and a boutique hotel.

Shadi El Ghoneimi, Partner and Head of design of El Ghoneimi Architects, which designed the project, told Zawya Projects that the hospitality part would include a 250-key 5-star hotel, a 35-key boutique hotel, and 50 hotel apartments.

Construction is expected to start by the end of 2021, and the first phase would be completed in 2024, Eldanasoury said.

Jumeirah Egypt has contracted United States-based Crystal Lagoons to develop a lagoon over an area of 60,000 sqm to provide private waterscape for each resident, he added.

He also disclosed that the company is planning new projects in New Administrative Capital, Sheikh Zayed City, and the North Coast but declined to elaborate.

(1 US Dollar = 15.68 Egyptian Pounds)

(Reporting by Eman Hamed; Additional inputs by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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© ZAWYA 2021