Emaar Misr sold 10 villas worth LE1bn at North Coast Marassi

Emaar Misr sold 10 villas worth LE1bn at North Coast Marassi to a member of the Saudi Royal Family last year, testifying to the property company’s ability to bring in Arab money to Egypt.

This transaction demonstrates how sons and friends of the Saudi Royal Family members are buying properties and spending their holidays in Egypt without having to fly to Barcelona, Naples and London.

An interview by Osoul Misr Magazine with the Emirati businessman and global entrepreneur and chairman of Emaar Misr Mohamed Alabbar has shed light on the inauguration of the North Coast’s Address Marassi Golf Resort.

According to the report, Emaar Misr decidedto go ahead with opening the hotel this summer even before the date of 2021 which had officially been specified for inauguration.

“ I felt it would be inadequate to miss out on the chance of spending the summer on the North Coast so we kicked off preparations six months ago to make the hotel ready for this summer season,” said he.

Address Marassi Golf Resort is the first of its kind outside the United Arab Emirates, he confirmed, underscoring the importance of the hotel for Arab tourists and Emaar Misr’s real desire to bolster tourism in Egypt.