Hassan Allam Properties (HAP), a leading real estate player in Egypt, announced today the acquisition of a new plot of land at Orascom Development Egypt’s (ODE) El Gouna. This expansion represents a significant step for HAP, further solidifying its seaside resort proposition in one of Egypt’s rapidly growing and acclaimed Red Sea destinations.
Spread over 110,000 sqm, the new project will feature a primely located boutique development housing a variety of fully finished waterfront condos ranging between one to four bedrooms, duplexes, and penthouses, all inspired by Greek architecture. The project is anchored by a 15,000 sqm crystal lagoon surrounded by a pristine white sandy beach, granting all homes compelling views.
Mohamed Allam, Vice Chairman & CEO of Hassan Allam Properties, commented, “We are delighted to partner once again with ODE for the second time at El Gouna. This collaboration reflects our strategic vision, emphasizing our dedication to expanding our nationwide portfolio of projects, not only in the city, but also by the sea. We are confident that our new joint undertaking will yield promising results. Together, we aim to continue driving innovation and excellence in the real estate sector, ultimately enhancing the quality of life for El Gouna loyalists and investors alike.”
The new acquisition underscores the established partnership between HAP and ODE. Following the success of HAP’s previous venture at El Gouna, ‘’SwanLake El Gouna’’, this latest endeavor represents a continuation of their shared vision for the destination.
Omar El Hamamsy, CEO of Orascom Development Egypt, stated, “We are excited to embark on this journey once again with Hassan Allam Properties. Our partnership has yielded remarkable success in the past, and we are excited to continue this collaborative trajectory with the new project at El Gouna. This new venture highlights our shared commitment to creating sustainable, community-centric resorts that enrich the lives of El Gouna residents through targeted partnerships with leading developers that leverage our collective expertise and vision.”
This partnership with Hassan Allam Properties marks a significant milestone for Orascom and underscores their commitment to El Gouna’s residents and visitors. It also aligns with ODE’s long-standing mission to create vibrant, thriving communities that serve as premier destinations for living, leisure, and business.
This latest land acquisition reaffirms HAP’s commitment to creating exceptional living environments that blend luxury and accessibility. HAP is set to offer a distinct residential experience for prospective buyers and residents. Positioned as a retreat for both relaxation and community engagement, the resort will elevate the standard for premium beachfront living, providing residents with a refined experience in El Gouna.
