amwalalghad :: Crystal Lagoons inks $400m Egypt Ain Sokhna resort contract

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Crystal Lagoons inks $400m Egypt Ain Sokhna resort contract


Published Tuesday, 14 February 2017 15:00 | Written by Amwal Al Ghad English

Crystal Lagoons, a leading international water innovation company, said Monday it has joined hands with Egyptian property developer Madaar to build two lagoons at its $400-million Azha resort in Ain Sokhna, Egypt.

A high-end waterfront luxury residential development, Azha is being described as ‘the new capital of Egypt’, on the increasingly popular western Red Sea coast.

The 1.6 million-sq-m development will feature a five-star line-up of luxurious amenities including spacious village residences, hotels and serviced apartments, a golf course and clubhouse, shops, community centres, a beach club, sports facilities and parks which is expected to be fully operational by 2020.

A key developer of the ‘world’s top amenity’ able to bring an idyllic beach lifestyle anywhere in the world, Crystal Lagoons said the crystal-clear lagoons, which will be the centre piece of the project, will provide ample space for a range of watersports including swimming, kayaking, paddle boarding and windsurfing.

Combined, the crystal-clear lagoons, developed at very low construction and maintenance costs, will total over 16 hectares, spanning 6.4 hectares and 10.2 hectares with completion expected at the end of 2018, it stated.

On the contract win, Carlos Salas, th regional director (Middle East) at Crystal Lagoons, said: "The announcement marks Crystal Lagoons’ 11th project in Egypt, which is emerging as a key market for the world-leading leisure amenity."

"We have witnessed incredible growth in Egypt in the last two years and the country is now our fifth largest market with several projects in the pipeline to increase our presence further. We are not only adding to the aesthetic appeal of a destination, but providing practical recreational and leisure facilities, such as paddle boarding, sailing and kayaking, at low construction and maintenance costs that adds real value to the resort,” stated Salas.

Gasser Bahgat, the chief executive of Madaar Developments, said: "We are thrilled to be working with Crystal Lagoons on our flagship project; Azha Ein Sokhna. In Azha, we aim to create an all year-round haven and a tropical sanctuary for our clients."

"We will have a long-term co-operation between Madaar and Crystal lagoon in Egypt and internationally. Crystal Lagoons will be part of our vision in transforming Azha into an idyllic beach paradise. We are eager to see both company’s visions come to life," he added.

Crystal Lagoons is the only global company with the technological capability to make the development of giant controlled manmade bodies of water economically viable.

The company holds two Guinness World Records for the world’s largest lagoon, the first in San Alfonso del Mar, Chile and the second in Sharm El Sheik, Egypt, which is the current world record holder at 12.2 hectares, said Salas.

The large crystalline lagoons use 30 times less water than a similar sized golf course and half of the water required to irrigate a park of equivalent size.

Designed to be self-cleaning, the lagoons use up to 100 times less chemicals than traditional systems and only two percent of the energy required by conventional filtering technologies, making them incredibly sustainable, he stated.

The company recently unveiled a new film-based evaporation technology, which lowers water-waste rates by up to 70 per cent.

“We have developed our patented technology and a proven business model to add significant value to a development at a very low cost, and provide substantial ROI for the developer,” revealed Salas.

Crystal Lagoons said it has currently over 600 projects, in various stages of development and negotiation, in 60 countries worldwide.

"Globally we are providing a viable, affordable long-term solution, despite climate and geographical challenges. The proposition is particularly apt considering we can use any kind of water including brackish from underground aquifers, eliminating the need to consume valuable fresh water resources, something particularly pertinent to our partners in the Middle East," he added.

Source: TradeArabia