Orascom invest in Egypt hotels
The Swiss-based company, Orascom Development Holding has bought a 4.5 percent stake of a company which provides luxury Egypt hotels and resorts, under a joint plan to develop a new resort property on the Red Sea which will include a marina.
Orascom Development's auxiliary, Orascom Development and Management (ODM) have signed a nine year deal with Egyptian Resorts Co. (ERC) and the two companies are making plans to develop 618 acres of ERC property which surrounds the existing resort of Sahl Hasheesh.
The new additions to ERC's Egypt hotels will feature 4,000 rooms and suites, 2,500 residential units and a marina, and is expected to be completed by the end of 2012. Chief Executive Officer of Egyptians Resorts, Mohamed Kamel, said:
"These strategic assets promise to create significant value for the resort in general and help bring added value for both firms. ODM will act as the development manager and will also market and sell the residential estate units surrounding the marine area, which is considered as one of the pillars of the Red Sea resort of Sahl Hasheesh."
In return for its share, Orascom Development Management will receive a share of profits and revenue fro ERC. Set upon 10,100 acres, the Sahl Hasheesh resort is situated 11 miles south of Hurghada and has 1,577 hotels rooms and suites for its guests on holidays in Egypt as well as 679 real estate units.
The all sea-view resort stands out from other Egypt hotels with is 7.8 miles of shoreline, gorgeous sandy beaches, and the Hasheesh Island, which offers a great diving site for guests on Egypt holidays. As well as the luxury range of accommodation, travellers staying at any of the Egypt hotels on the stunning complex can take advantage of the luxury facilities including golf courts, a cinema complex, numerous swimming pools, and the forthcoming worldwide unique marina.
The warm climate attracts visitors to the luxury resort on an all-year-round basis and there are plenty of historic attractions and sites to visits nearby as well as vibrant city and endless water sports activities.
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This modern resort offers an ideal location for a family friendly stay close to beautiful sandy beaches
- Just 10 minutes by bus from a lovely stretch of some of the finest sandy beaches
- Dive deep into clear waters of the Red Sea to enjoy colourful coral reefs and explore a variety of fish and marine life
- Sol y Mar Sharks Bay offers a variety of restaurants, a lobby bar & terrace, an Internet cafe and a shuttle bus to the nearby beach
Ideal for those who love the sun and sea with its own private beach and marina, a professional diving centre, a water sports centre and swimming pools.
- A prime location, beside a lovely sandy beach, just minutes from buzz of downtown Hurghada
- Kids can enjoy their own kids' club and pool, whilst adults can play tennis, squash or beach volleyball
- Guests can unwind and enjoy the magnificent view from their private balcony
Relax at Naama Bay with pleasant grounds and wonderful amenities to keep you occupied
- Visitors flock to Pirates, for an eveing drink, before or after sampling some wonderful cuisine in the array of restaurants
- Prime spot in Naama bay, as it was one of the first hotels in the area. The grounds are well tended and mature, with colourful plants and shrubs throughout
- Guest accommodation is discrete, with low rise bungalows dotted throughout the beautiful garden setting. Rooms and suites are light and airy, are tastefully furnished and come with all modern amenities
Enjoy access to 3 protected beaches, close proximity to the trendy strip of Naama Bay and its sizzling nightlife
- There is a myriad of activities on offer from relaxing treatments at the Club Olympus Spa to exciting land and water sports
- Choose from fantastic dining options including seasonal specialities, a charcoal grill, and Thai cuisine
- Adventure seekers can enjoy jeep safaris, quad bikes, mountain treks, and camel expeditions
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