Gulf Egypt Unveils EGP 20 Billion Integrated Hospitality Destination in Sharm El Sheikh
Gulf Egypt for Hotels and Tourism, a subsidiary of United Real Estate Company (URC), has announced a major integrated lifestyle hospitality development in Sharm El Sheikh, marking the company's 50th year in the Egyptian market. The project, representing an investment exceeding EGP 20 billion, will span approximately 354,458 square metres with nearly 750 metres of natural sandy beachfront, located minutes from Sharm El Sheikh International Airport. The development will comprise a luxury bay-front hotel, two branded residential communities, and Sharm El Sheikh's first internationally branded beach club, alongside wellness, leisure, and entertainment offerings within a single master-planned destination. The project has been developed with the support of Egypt's Tourism Development Authority (TDA) and aligns with the objectives of Egypt Vision 2030.
To underpin the development, Gulf Egypt has signed advisory agreements with HVS - one of the world's leading hospitality advisory firms - and JLL, to provide market research, feasibility studies, master planning support, and development strategy. A cooperation protocol has also been signed with Al Montazah Tourism & Investment Company, from which Gulf Egypt acquired the project land. Gulf Egypt CEO Tarek Elshazly described the launch as an embodiment of the company's strategy to create integrated, mixed-use tourism destinations that support Egypt's broader tourism development plans. HVS President for the Middle East, Africa and South Asia, Hala Matar Choufany, noted growing investor and operator confidence in Sharm El Sheikh, adding that projects of this scale enhance the standing of the entire destination on the regional and international hospitality landscape. The project is currently progressing through its final approval cycle ahead of implementation.
Source: International Business Magazine
