Alchemy Developments has launched its inaugural project, Elo Resort, in New Alamein City, with an investment cost exceeding EGP 750 mn, Invest-Gate reports.
Moamen Hassan, CEO of Alchemy Developments, provided details about the Elo Resort project, emphasizing its tourism focus in New Alamein City.
The project encompasses an area of 12 feddans, with construction covering 22% of the total space. Elo Resort consists of a ground floor and four additional floors.
Furthermore, the company has announced the readiness of the first phase for delivery, with available units on the ground and first floors ready for immediate occupancy.
Hassan highlighted that the project includes fully finished and furnished hotel units, as well as a range of residential units starting from 50 sqm for studios up to 125 sqm. All units offer pool views and are fully finished. Additionally, the resort features a strip mall and a service mall.
Hassan emphasized the project’s unique location, situated in the heart of New Alamein, at kilometer 116 before the international coastal road. The resort boasts a picturesque view with a direct facade facing the international coastal road, overlooking the presidential palace and the cabinet. It is conveniently located in close proximity to the high-speed electric train station, the monorail of New Alamein City, and the central business district.
Moreover, the resort enjoys a direct view of the El Alamein Towers (Chinese Towers), adjacent to the Italian and German World War II Military Memorial, and is near the new Al Hamra Port as well as its land extension.
Hassan explained that several companies have been contracted as success partners for the project. Notably, HRE Properties will handle property management and leasing, while Egypro will oversee facilities management and services, ensuring a distinct and exceptional real estate resort experience.
Regarding the investment cost, Hassan revealed that it exceeds EGP 750 mn. According to the project schedule, the completion and delivery of the resort are expected within three years. To facilitate customers, the company has developed flexible payment systems, allowing for a 10% down payment and installment plans of up to nine years.