Egypt’s Mousa Coast Developments has announced the delivery of 110 residential units at its South Sinai beach resort “Mousa Coast,” with investments amounted to EGP 100 mn in 2019, Invest-Gate reports.
Situated in Ras Sudr’s Oyoun Mousa, Mousa Coast currently comprises 2,610 units, including commercial and recreational spaces, according to the company’s press release on December 5.
Mohamed Hany El Assal, CEO of Misr Italia Holding, which is the mother company of Mousa Coast Developments, noted that Mousa Coast is aimed at serving the various consumer needs through the provision of fully-equipped commercial and residential facilities that include numerous restaurants and shopping stores, exhibiting a variety of high-end brands in addition to a four-star hotel.
Through Mousa Coast, the company seeks to promote foreign and domestic tourism, thanks to the resort’s strategic location in Oyoun Mousa, which is “the world’s second least polluted city.” It bids to establish a one-of-a-kind community that ensures a healthy lifestyle for its residents, secluded away from the highly-congested cities, El Assal further stated.
Spanning across more than 6.6 mn square meters, with a 3.5-kilometer Red Sea beachfront, Mousa Coast is a 45-minute drive from the New Administrative Capital (NAC), while being 90 and 15 minutes away from Greater Cairo and Ras Sudr International Airport, respectively.
“In light of the support of the government’s ongoing environmental sustainability plans, the company has established a water desalination plant and a giant water tank in Mousa Coast, aiming to provide residents and visitors with a sustainable water source,” read the statement.
Misr Italia Holding, which is known for building fine real estate developments, has so far invested a total of EGP 68 bn in the Egyptian property market. The developer’s total land bank in the North African country amounts to 11 mn square meters, implementing 11 housing projects and nine commercial complexes, with merely 6,000 units delivered, alongside five luxury hotels.