March 21, 2019

Egypt property news: Movenpick signs second property in El Sokhna

Egypt property news

Movenpick Hotels & Resorts has signed for a new modern beach and golf resort to be added to their portfolio of eight hotels and eight river cruises in Egypt, recent Egypt property news shows.

The agreement was inked with Galalah Co. For Touristic Investments S.A.E. who is set to manage the 214-key Movenpick Hotel El Ein Bay, its second property in the coastal region of El Sokhna.

It is set to open in 2020 and will offer 214 rooms and suites and several dining venues including a rooftop lounge with meeting and event space spanning over than 1,000m. It also has a large swimming pool and exclusive spa facilities.

This addition to Egypt is set to attract several tourists from around the world, which means the Egypt property market will only flourish over time. Investing in the Egyptian real estate market may be a very wise decision, as looking into the long-term plans and prosperous opportunities make Egypt set for a very bright future.

Referred to as ‘Cairo Beach’, El Sokhna is the closest seaside location to the capital and the resort will offer idyllic views of an 18-hole golf course.

The company is currently seeking fast expansion, with plans to invest in 125 properties all over the world by 2020, again, very positive Egypt property news.

There is an old saying that Egypt is the gift of the Nile and this still remains strong – without the River Nile there would be no fertile land, no electricity and no food – it enacts as a very powerful source for the local people. It is also a big attraction for tourists, with the Nile cruise heightening in popularity.

All across Egypt, there are spectacular ancient monuments and cultural diverse attractions. Egypt has it all to offer for tourists and for local communities, and with such big developments set in stone, it gives investors and buyers in the Egypt property market even more of an incentive to invest in properties fast.

Internationally, the country is gaining exposure and now their housing market is set to boom over the next 3-5 years. The question to ask now is: how many people will start to invest in the Egypt property market and how many people will watch the opportunity pass them by?

Written by Gemma Smith

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