El Waad Red Sea Tourism Development has announced the launch of the third phase of its flagship project, Tavira Bay Ras Sudr, following the successful sale of the first two phases in record time, Invest-Gate reports.

Sherif Okasha, Chairman of El Waad Red Sea, attributed the project’s success to the company’s strong reputation, prime location, diverse unit offerings, and flexible payment plans. He expressed confidence that the third phase, Lake Park, will achieve similar rapid sales.

Lake Park introduces unprecedented leisure and commercial services in Ras Sudr, including kayaking, a pool café, a sandy beach, vendor cars, lagoons, 30 swimming pools, a children’s playground, an aqua gym, and a Roman-style amphitheatre for events. The project also boasts expansive green spaces and scenic lakes, making it an attractive investment opportunity with a wide variety of unit types, including standalone villas.

Okasha noted that 90% of units in the first two phases have already been sold, highlighting the appeal of Tavira Bay’s competitive pricing and premium amenities. The company’s strong track record and longstanding presence in the real estate sector have further bolstered client trust, driving high demand for the new phase.

Spanning 115 feddans, Tavira Bay offers a unique beachfront experience with diverse unit options, including one- and two-bedroom apartments and standalone villas. The development features modern architectural designs that seamlessly blend with the natural surroundings, providing a sophisticated and comfortable living experience.