Crystal Lagoons is set to create North Africa’s largest crystalline lagoon, the company has said.
It has won the bid for two Egypt projects worth almost US $2 billion, including the six-phase Bo Islands project being developed by Maxim Real Estate.
Located on the Alexandria-Marsa Matrouh north coast road, the upscale tourism and residential community will cover an area in excess of 10 million square metres and is being developed at a total investment cost of around $1.8 billion.
“This will be our largest North Africa project to date, with 32 hectares of crystalline lagoons, which once completed, will be the largest manmade lagoon in the region,” said Carlos Salas, regional director, Middle East, Crystal Lagoons.
“This is a phenomenal undertaking and one that we are eager to get off the ground as soon as possible.”
Phase one of the project, equal to 10% of the total area, will cost an estimated $455 million and is expected to be completed in Q1 2018.
Phase one will comprise of 17.5 kilometres of powder-white sand beachfront complemented by an impressive 32 hectares of sparkling lagoons, which will be home to a host of unique water-based activities.
Crystal Lagoons’ second project is the two-hectare El Gouna community development.
Situated on Egypt’s Red Sea coastline construction is scheduled to begin in Q2, 2016.
Designed to be self-cleaning, the lagoons use up to 100 times less chemicals than traditional systems, and only 2% of the energy required by conventional filtering technologies, making them more sustainable, the company said.