DM Development signs a memorandum of understanding (MoU) with German integrated property manager Apleona to build the first therapeutic and recreational destination in Egypt and the Middle East, with total investments of EGP 300 mn, Invest-Gate reports.

The new destination will be located in The Groove Sokhna Resort’s retail area, in Ain Sokhna region.

The project includes a therapeutic venue with all its facilities, serving and attracting medical and recreational tourism, and a boutique hotel.

“The project targets attracting around 29,000 tourists annually, in addition to providing over 1,000 job opportunities in tourism and services,” Ahmed Abd El-Hamid, Managing Director of DM Development, comments.

“We will also provide their daily requirements according to the latest innovative methods that ensure smooth and safe movement within the project and the commercial area, where the therapeutic resort will be located, in order to guarantee that all its facilities are easily accessed,” Mohamed Delawer, CEO of Apleona Egypt, notes.