Built to inform

Sign up for the daily newsletters

No, Thank you

Crystal Lagoons involved in $5bn worth of projects in Egypt

With 13 contracts signed, and 10 at various stages of negotiation, Crystal Lagoons has revealed that it is involved in $5bn worth of projects in Egypt

Crystal Lagoons has signed 13 contracts in Egypt, and is in the process of negotiating 10 others.
Crystal Lagoons has signed 13 contracts in Egypt, and is in the process of negotiating 10 others.

Crystal Lagoons has revealed that it is currently involved in $5bn (EGP89.9bn) worth of projects in Egypt.

The artificial lagoon manufacturer has signed a total of 13 contracts in the country, and is in the process of negotiating 10 others in Cairo, the North Coast, Ain Sokhna, and Hurghada.

Owing to Egypt’s status as Crystal Lagoons’ top market in the Middle East and North Africa (MENA) region, the firm plans to open its new regional headquarters in the country later this month.

Carlos Salas, Crystal Lagoons’ MENA regional director, will have responsibility for the new base. Commenting on the move, he said: “Egypt is a key market for us and, as such, we have opened new headquarters in Cairo to facilitate the huge number of projects and deals we are currently working on with Egypt’s most prominent developers.”

Crystal Lagoons’ current Egyptian development portfolio includes a large-scale installation on Bo Island. The company’s biggest project in Egypt to date, this contract will involve the construction of 32ha of artificial lagoons within Maxim Real Estate’s $1.8bn (EGP32.3bn) mixed-use community. Phase 1 of the project will cost an estimated $455m (EGP8.2bn) to develop, and is expected to complete in Q1 2018.

The company is also working on a $250m (EGP4.5bn) contract in Egypt’s Sokhna mountain range; a project within Tatweer Misr’s $117m (EGP2.1bn) Fouka Bay development; and its second Sharm installation, following the completion of its Guinness World Record-holding $500m (EGP9bn) Citystars Sharm El Sheikh lagoon.

Crystal lagoons currently boasts more than 600 projects in 60 countries around the world.

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 753
Nov 09, 2019