MG Developments Acquires Ain Sokhna Hospitality Services Company and Unveils Plans for a New Project in 2025
MG Developments has announced its acquisition of **Ain Sokhna Hospitality Services Company**, a strategic move aimed at strengthening its presence in Ain Sokhna and expanding its portfolio in one of Egypt’s most sought-after destinations for real estate and tourism.
According to **Mohamed Metawee**, Chairman of MG Developments, this acquisition is part of the company’s efforts to reinforce its position in Ain Sokhna, building on the success of its flagship project, “Blue Blue.” The project has established the company as a leading developer in the region, with a strong track record in delivering high-quality real estate developments.
**Aya El-Shenawy**, Executive Director of the Commercial Sector and a member of the board, highlighted that the acquisition will facilitate the company’s ambitious expansion plans. MG Developments intends to utilize the newly acquired land for the development of innovative projects, aligning with its broader strategy to increase investments in Egypt’s real estate market.
El-Shenawy also revealed that the company is preparing to launch a new project in the "North Abu Darag area, with investments estimated at *EGP 1.5 billion. Th project, which is expected to be unveiled in 2025, will cater to the growing demand for coastal residential and tourism developments
“This acquisition marks a significant milestone in MG Developments’ journey to expand its footprint in Egypt’s real estate sector. We are committed to offering premium services in hospitality and tourism through integrated hotel projects that meet the evolving needs of our clients, all while adhering to the highest standards of quality,” El-Shenawy said
The company also announced plans to develop a luxury resort with hotel services on the newly acquired land. The design and development phases are currently underway in collaboration with acclaimed architect **Yasser El Beltagy (YBA)**. The project is set to redefine hospitality in Ain Sokhna and further solidify MG Developments’ position as a key player in the market
This step underscores MG Developments’ vision of driving growth in Egypt’s real estate and tourism sectors, leveraging innovation and quality to create impactful projects that resonate with market demands
تعليقات
إرسال تعليق