Egypt’s Orascom Construction to build $61.4mln luxury resort

Egypt’s Orascom Construction has recently signed a $61.4 million contract with Eagle Hills Properties, a UAE-based real estate developer, to build the first phase of Soul Luxury Beach Resort in North Coast.

The agreement “signifies a commitment … in constructing and bringing to life parcels 3 and 4 (Flow – Breeze) within phase 1A of the resort, to be completed in 1,020 days,” according to Orascom’s statement on Tuesday.

Orascom Construction’s CEO Osama Bishai, said that the project will be a major contributor to the development of Egypt’s North Coast and tourism sector, as well as a reflection of the company’s capabilities in delivering high-quality projects.