Crystal Lagoons, the patented technology developer of giant crystalline lagoons, said it has won two prestigious contracts at developments worth nearly $2 billion in Egypt, including a deal to develop the largest-ever water-based leisure attraction in the North Africa region.
The six-phase Bo Islands project is being developed by Maxim Real Estate, part of the multi-faceted Maxim Holdings group of companies, said Crystal Lagoons. Located on the Alexandria-Marsa Matrouh north coast road, the project will cover an area in excess of 10 million sq m and is being developed at a total cost of $1.8 billion.
Carlos Salas, the regional director (Middle East) at Crystal Lagoons, said the first phase of the project, equal to 10 per cent of the total area, will cost an estimated $455 million and is expected to be completed in the first quarter of 2018. Phase One will boast of 17.5 km of powder-white sand beachfront complemented by an impressive 32 hectares of sparkling lagoons, which will be home to a host of water-based activities.
Crystal Lagoons’ second project is the two-hectare El Gouna community development on Egypt’s Red Sea coastline and the centrepiece of the $100-million mixed-use hub being developed by Hassan Allam Properties.