The global hotel management company Swiss-Belhotel International has signed an agreement with Marseilia Egyptian Gulf Real Estate Investment to operate a new hotel in Sidi Abd El Rahman Bay on the north coast of Egypt, Invest-Gate reports.

The 150-key Swiss-Belresort Marseilia Beach 4 is owned and being built by Marseilia Egyptian Gulf Real Estate Investment S.A.E., according to Reuters.

.”The design is almost finalised,” Laurent A. Voivenel, Senior Vice-President of Operations and Development for the Middle East, Africa and India, told Reuters.

The upscale four-star resort is expected to be completed in 2020.

The new hotel will be the second property owned by Marseilia managed by Swiss-Belhotel International. The company has also signed a contract to operate the 1,200-key Swiss-Belhotel Marseilia on Alexandria Beach, due to open in 2018.