Cairo, Egypt – Hassan Allam Properties (HAP), a leading real estate player in Egypt, announced today the acquisition of a new plot of land at Orascom Development Egypt’s (ODE) El Gouna. This expansion represents a significant step for HAP, further solidifying its seaside resort proposition in one of Egypt’s rapidly growing and acclaimed Red Sea destinations.

Spread over 110,000 sqm, the new project will feature a primely located boutique development housing a variety of fully finished waterfront condos ranging between one to four bedrooms, duplexes, and penthouses, all inspired by Greek architecture. The project is anchored by a 15,000 sqm crystal lagoon surrounded by a pristine white sandy beach, granting all homes compelling views.

Mohamed Allam, Vice Chairman & CEO of Hassan Allam Properties, commented, “We are delighted to partner once again with ODE for the second time at El Gouna. This collaboration reflects our strategic vision, emphasizing our dedication to expanding our nationwide portfolio of projects, not only in the city, but also by the sea. We are confident that our new joint undertaking will yield promising results. Together, we aim to continue driving innovation and excellence in the real estate sector, ultimately enhancing the quality of life for El Gouna loyalists and investors alike.”

The new acquisition underscores the established partnership between HAP and ODE. Following the success of HAP’s previous venture at El Gouna, ‘’SwanLake El Gouna’’, this latest endeavor represents a continuation of their shared vision for the destination.  

Omar El Hamamsy, CEO of Orascom Development Egypt, stated, “We are excited to embark on this journey once again with Hassan Allam Properties. Our partnership has yielded remarkable success in the past, and we are excited to continue this collaborative trajectory with the new project at El Gouna. This new venture highlights our shared commitment to creating sustainable, community-centric resorts that enrich the lives of El Gouna residents through targeted partnerships with leading developers that leverage our collective expertise and vision.” 

This partnership with Hassan Allam Properties marks a significant milestone for Orascom and underscores their commitment to El Gouna's residents and visitors. It also aligns with ODE’s long-standing mission to create vibrant, thriving communities that serve as premier destinations for living, leisure, and business.

This latest land acquisition reaffirms HAP’s commitment to creating exceptional living environments that blend luxury and accessibility. HAP is set to offer a distinct residential experience for prospective buyers and residents. Positioned as a retreat for both relaxation and community engagement, the resort will elevate the standard for premium beachfront living, providing residents with a refined experience in El Gouna.

About Hassan Allam Properties

Hassan Allam Properties is a leading real-estate development group in Egypt marketplace. Since its inception in the 1990’s, Hassan Allam Properties [HAP] has carved an enviable niche for itself as an exclusive boutique developer. Originating as a trusted family-run business passed down through three generations, HAP draws on 80 years of development expertise to master the equation of private luxury and inviting hospitality going beyond just building homes. Driven by a community-centric vision and a passion for individuality, the company boasts a wide diversified portfolio of first-class residential communities and vacation homes catering to families in search of exclusive experiences and private seaside getaways throughout prime locations in Egypt.

Today, HAP prides itself as a leading real-estate player with nation-wide foot-print of 24 well integrated developments and sub-developments and almost 15k homes between developed and underdevelopment units in partnership with leading local and global names in the industry to transcend local boundaries, bringing its unique success formula to the region by transforming infinite landscapes into dream-like realities where families come together and homes come to life, while delivering the highest of standards that it's known for. After having established a significant footprint in integrated residential living, the group solidly thrives to continue its growth in hospitality and mixed-use developments, while creating value for lifetime investments. HAP’s diversified portfolio spans primary homes in East and West Cairo, as well as secondary homes along the North Coast and the Red Sea.

For more information, please visit www.hassanallamproperties.com

About ODE

Orascom Development Egypt is the largest subsidiary under Orascom Development Holding (ODH), a leading international developer specializing in vibrant, integrated communities in Europe, the Middle East, and North Africa. For more than 30 years, Orascom Development Holding has been a pioneer in creating destinations where people are inspired to live, work, and play with passion and purpose.

From El Gouna’s stunning Egyptian coastal town by the Red Sea to O West’s modern and integrated town living in the heart of West Cairo’s Sixth of October, each master-planned community is a testament to ODE’s commitment to place-making at its finest. Other integrated towns in Egypt include Makadi Heights near the Red Sea, Taba Heights on the Sinai Peninsula, and Byoum in Fayoum. ODE owns a land bank of over 50 million square meters, with nearly 28% developed or under development. ODE’s hospitality portfolio includes 24 premium and luxury hotels with more than 4,900 rooms in Egypt. ODE shares are listed on the Egyptian Stock Exchange (EGX).

For more information, please visit https://www.orascomde.com/