Developer to develop North Africa’s largest crystalline lagoon
Crystal Lagoons has landed two contracts in Egypt, including a deal to develop North Africa’s largest water-based leisure attraction, according to a statement.
The developer of large crystalline lagoons said it has been contracted for the six-phase Bo Islands project being developed by Maxim Real Estate, part of Maxim Holdings.
Located on the Alexandria-Marsa Matrouh north coast road, the tourism and residential community will cover an area in excess of 10 million square metres and is being developed at a total investment cost of around $1.8 billion.
“This will be our largest North Africa project to date, with 32 hectares of crystalline lagoons, which once completed, will be the largest manmade lagoon in the region. This is a phenomenal undertaking and one that we are eager to get off the ground as soon as possible,” said Carlos Salas, Regional Director for the Middle East at Crystal Lagoons.
Phase one of the project, equal to 10% of the total area, will cost an estimated $455 million and is expected to be completed in the first quarter of 2018. It will comprise of 17.5 kilometres of sand beachfront, and 32 hectares of lagoons.
The development will include 1,115 villas and chalets, two waterfront resort hotels offering 300 guestrooms, and an electronic tram system.
Crystal Lagoons’ second project is the two-hectare El Gouna community development, situated on the Red Sea coastline. The $100 million mixed-use residential and tourism hub is being developed by developer Hassan Allam Properties, with construction scheduled to begin in the second quarter of 2016.
Crystal Lagoons says its self-cleaning water features use up to 100 times less chemicals than traditional systems, and only two per cent of the energy required by conventional filtering technologies.