Crystal Lagoons to promote $1bn projects in Egypt
Developer of patented mega-lagoon technology to showcase growing global portfolio at Cityscape Egypt 2015
Crystal Lagoons will be exhibiting for the first time at Cityscape Egypt with an update on its growing portfolio of Egypt projects and newly strengthened regional team.
Carlos Salas has been appointed regional director Middle East, with a remit to oversea the company’s strategic growth, with a total of 10 active, under-development and pipeline projects spread across five key locations.
Crystal Lagoons has a total of four active projects in Egypt, including the 12.2 ha CityStars Sharm El Sheikh lagoon, the regional flagship for the company. The $500m development will feature 30,000 residential units, hotels, golf courses, marinas, a museum and a shopping mall.
The company is also developing a second lagoon for Sharm el Sheikh, which is 2.7 ha and will be the glittering turquoise centerpiece for a 2,500-room, three-hotel mixed-use development.
Newly added to the portfolio for 2015, Crystal Lagoons is working with Hassan Allam Properties (hap) on a trio of crystal lagoons for its high-end Swanlake North Coast community. The $200m development encompasses luxurious residential villas, twin villas, chalets and a boutique hotel.
“With a choice of three lagoons ranging in size from 1.64 to 2.67 hectares, this is a fantastic opportunity for us to work hand-in-hand with the architect and developer of Swanlake to create a sustainable leisure experience that is the perfect vehicle for our technological innovation, but that also showcases the future of mega lagoon-based communities and the value-add that they bring to residents and visitors,” said Carlos Salas, Middle East regional director, Crystal Lagoons.
The fourth and final project under development in Egypt is also located on Egypt’s northern coast. Developed by real estate company Porto Group, the $345m, 150 ha mixed-use Porto Golf Marina will offer a 2.4 ha crystalline lagoon to complement a collection of restaurants and 19 residential buildings with a total of 2,126 apartments (Porto Lagoons).