Crystal Lagoons signs US$85 million deal to build 13th project in Egypt23 August, 2017 / News
Crystal Lagoons, the multinational water innovation company and developer of crystal clear lagoons, has signed a contract with Egyptian developer, El-Shahawi Properties, to construct one of the most unique lagoons to date within the luxury Ein Hills development.
The US$85 million development is situated over 50 acres, and located 126km from Cairo and just 12km from Sokhna, on the western shore of the Red Sea. Consisting of 500 luxury properties in the heart of the mountain, the architecture and design of the properties replicates the streets of Monaco. The manmade lagoon will measure 0.54 hectares, the first of this size in the MENA region.
The move brings the “world’s top amenity” to a 13th destination in Egypt. And while, at 12.5 hectares, Sharm El Sheikh holds the Guinness World Record for the largest crystalline lagoon, the latest development on the Western Shore of the Red Sea, is very much at the other end of the spectrum.
Carlos Salas, Middle East Regional Director of Crystal Lagoons, said: “This really showcases the versatility of our product when it comes to partnering with real estate and hospitality projects. While we are more than capable of installing our lagoons over large-scale developments, we are equally cable of tailoring a manmade lagoon to meet the demands of developers who require a more boutique offering at greater economies of scale.”
“The new crystal-clear lagoon in Ein Hills will fit perfectly within the cascading hills of Sokhna. As well as enhancing the aesthetic appeal of the destination, the crystal-clear lagoon will add significant value by offering an exclusive beach-front location, suitable for swimming and a range of other water sports,” said a representative from El-Shahawi Properties.
Crystal Lagoons currently has 600 projects at various stages of negotiation and development worldwide and in projects worth over US$6 billion in Egypt. They include the 38-hectare lagoon situated in the US$400 million phase two of REMCO Group’s vast Stella di Mare project in Ain Sokhna, the US$400 million Azha resort developed by Madaar, the 2.7-hectare lagoon within the US$1 billion Mousa Coast community and a 32-hectare lagoon at the $1.8 billion Bo Islands development with Maxim Real Estate.
The crystal-clear lagoons are developed using 30 times less water than a golf course, half the water required of a park of the same size, 100 times less chemicals than a traditional filtration system and 98% less energy required by conventional water treatments systems. The low construction and maintenance costs, teamed with unmatched sustainable credentials, offer a substantial return on investment.
Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size crystal clear lagoons at very low costs.