Egyptian property developer Azmeel Group has announced plans to enter the lucrative Gulf property market with a major focus on tourism projects, said a report.

The Cairo-based group had recently developed Selena Bay project in Hurghada, one of the major leisure projects in Egypt, aimed at activating and promoting the country’s tourism industry, reported Amwal Alghad.

Egyptian real estate is one of the most powerful and active sectors attracting foreign investments, notably after the increase of dollar to the Egyptian pound, said the report, citing its chairman Ahmed Shaheen.

The group is boosting its presence with participation in several major projects and making promotional tours in Elite Real Estate Exhibitions' (Ereex 2016) editions in Qatar and Kuwait, stated the report.

Both were organised by Kuwaiti Eskan Group which is specialised in planning and managing international events, it added.