Hassan Allam Properties (HAP) announced the acquisition of 600 feddans in the North Coast of Egypt.
HAP has previously established a second home resort, SwanLake North Coast.
The development’s master plan will include a variety of residential units. Aside from the residential spaces, the resort will include a clubhouse, five-star boutique hotel, commercial hub, water park, and sports club, as well as beachfront cabanas.
Hassan Allam Properties CEO Mohamed Allam said that the current housing and infrastructure sector stands at a record of EGP 400bn.
“As the improving economic performance in Egypt provides more consumer confidence, Egyptians have enhanced assurance to invest in real estate. With this in mind, demand for real estate purchase has significantly increased the past couple of years, with the North Coast becoming one of the most sought-after investment locations in the country,” Allam noted.