Mangroovy for Hotels signed a land sale agreement with Orascom for Development Egypt (ODE) for 40,654.5 sq m of land in El Gouna, as an extension for the Mangroovy Residence project that is currently delivering its first phase. The total value of the deal is EGP104.8 million ($6.5 million).
The land plot will encompass different types of services to serve residences and guests, making it an integral part of the overall development that boasts a beachfront residence in El Gouna.
DoubleTree by Hilton Mangroovy El Gouna is expected to open its doors as part of Mangroovy Residence’s ambitious masterplan for the destination, acting as the focal point of the Mangroovy Residence compound, containing residential units on the famous Mangroovy beach, alongside water sports facilities, multiple swimming pools and a club house, in addition to a number of restaurants at the beachfront and in the resort. - TradeArabia News Service