Commerce on the Coast

RResearch Intelligence

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INTERNATIONALCORPORATE

RESEARCH

PROFILE REPORT

a Stakes Capital Ltd. Brand

research assessment evaluation. .

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Research Intelligence

ISSUE 5: JULY 2010

COMMERCE ON THE COASTCOMMERCE ON THE COAST

The most ambitious developments on the coast of the

Red Sea and Nile

The most ambitious developments on the coast of the

Red Sea and Nile

Limited Rc: 722863

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Commerce on the Coast Report © 2010 by ICR


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Commerce on the Coast Report 2010

Published by Stakes Capital Limited's International Corporate Research (ICR) under the trade name Research Intelligence

Stakes Capital Limited P.O.Box 9170 Shomolu, Lagos, Nigeriawww.stakescapital.com e-mail: [email protected]

International Corporate Researchwww.icr.stakescapital.com e-mail: [email protected] Copyright © 2009 by Stakes Capital and ICR

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Research by: International Corporate Research

Report Authors: Sanyaolu Kehinde Sanyaolu Taiwo

Cover Design by: ICR creative

Cover Picture: The 7 Star Hotel in Serrenia Sahl Hasheesh, Egypt. Courtesy: Serrenia

The Oversight sign, the Stakes symbol, the ICR barge and Research Intelligence are all trademarks of Stakes Capital Limited and therefore may not be duplicated.



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‘The Red Sea Riviera, the Mediterranean Riviera, the

shores of the Nile Valley and the Atlantic Ocean have

consumed the most investments in coastal tourist

development in North Africa’.

ver the last three decades, tourism inflow while about 1.5 million visitors earned Morocco $7.5 into Africa has been on a path of geometric billion in the same year. Vast amount of investments,

increase, earning big for the governments and billions of dollars in private and public capital has businesses in the destination states. Algeria, gone into continuously developing tourist sites Kenya, Tunisia and Egypt are some of the particularly coastal sites to attract more people countries that have greatly gleaned from this annually. Morocco's 'Plan Azur' which seeks to bounty of tourism income that is flowing increase tourist visits to 10 million by 2010 is inexorably into the African continent. Across the consuming billions of the government's dollars to continent, amazing sites exist blessed with develop five new tourist resorts on the Mediterranean stunning natural architecture that beckons tourists coast and one on the Atlantic coast.from all over the world especially Europe to the grandeur of North Africa's coastal cities, the The Red Sea Riviera, the Mediterranean Riviera, the ancient monuments of Egypt, the wildlife parks of shores of the Nile Valley and the Atlantic Ocean have Kenya, Tunisia's ancient ruins of Carthage, the consumed the most investments in coastal tourist hills, the rocks, natural springs, rain forests, desert development in North Africa. The mass of these where dunes and beautiful waterfalls that dot the African used in developing tourist villages, towns, cities, landscape impressing even the most exacting of resorts and hotels. Globally renowned hospitality tourists. companies, hotel developers, real estate developers,

leisure and travel consultants have invested in Annually, tens of millions of people leave the building hotels and resorts, water parks, casinos, bars, borders of Europe and America on tourist trips to restaurants, marinas, residential villas, schools, Africa. A huge number of these charting a course hospitals, golf courses etc along these shorelines that to the coastal cities, resort towns and villages of today exudes fascinating beauty. These coasts today North Africa where some of the world's most are the dock of ceaseless entrepreneurial exploits, un-developed and beautiful Riviera is found. The stifled architectural creativity and home to high scale shorelines of the Red Sea, Nile River, commerce.Mediterranean Sea and the Atlantic have been developed into splendid attractions that form a sumptuous display of natural beauty.

In 2007, Egypt which has a huge aquatic tourism industry, welcomed 9.99million tourist visitors,

AQUATIC MAGNETISM

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The numbers of developments that have been worthy that we note that an intrinsic part of what this report aims to achieve is the brewing of ambitiousness built along these coasts are voluble and the as an innate part of entrepreneurs. Ambition because expanse of land covered is extremely huge, without this entrepreneurial attribute, the volume of cloaked by grandeur and earning billions commerce being generated, plus the strength and size annually. However, certain of these commercial of the economy that has emerged from these coasts developments are not only outstanding, they pull would have only existed in fantasy.the biggest in capital investments to these areas

and contribute largely to the advancement of 6 of them are located on the Red Sea Riviera while one

commerce on these coasts. They are the most overlooks the Nile River all in the transcontinental

expansive and the most ambitious developments country of Egypt.

along the North African coasts.

Seven of these master developments have been profiled in this report that seeks to expound on how entrepreneurship and entrepreneurial ambition can turn societies and economies around abruptly for the better.

Though this report is not entirely about the entrepreneurs driving commerce forward on these coasts or even about their ambitiousness, it is

AIM OF THIS REPORT...certain of these commercial developments are not

only outstanding, they pull the biggest in capital

investments to these areas and contribute largely to

the advancement of commerce on these coasts.

AQUATIC MAGNETISM

This Profile Report seeks to expound on how

entrepreneurship can turn societies and

economies around for the better and how

Entrepreneurial Ambition is helping

solidify man’s affinity for aquatic life.

This Profile Report seeks to expound on how

entrepreneurship can turn societies and

economies around for the better and how

Entrepreneurial Ambition is helping

solidify man’s affinity for aquatic life.

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IN THIS REPORT

NILE CITY TOWERS

SERRENIA

EL GOUNA

GAMSHA BAY

SAHL HASHEESH

TABA HEIGHTS

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INTRODUCTION ARCHITECTURE

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HOTELS AND RESORTS

n the northern tip of the Gulf of Aqaba, one The architectural styles employed by the resort's of two gulfs formed from the bifurcation of village and hotels complement the breathtaking

the northern end of the Red Sea by the Sinai backdrop, employing age-old techniques developed Peninsula, is the tourist town of Taba the by the Arabian, Nubian and Mediterranean northernmost resort community on the Red Sea civilizations that once flourished there. Masterfully Riviera. Between the cinnamon-colored created by world renowned architects such as Michael mountains of the Sinai and the cool, sapphire Graves, the town centre and individual hotels each waters of the Red Sea, a picturesque, year-round take a slightly different creative angle on the region's resort is nestled - Taba Heights. Taba Heights is a rich cultural heritage. Muted tones perfectly tourist and residential resort ideally situated in one complement the azure and taupe hues of the sea and of the most beautiful spots on the Sinai Peninsula. desert while arresting architectural lines reflect the This stunning 4.2 million square meter resort striking mountain skyline.development spreads out along 5 Km of idyllic coastline fusing smoothly into the breathtaking natural backdrop of untamed desert, cinnamon mountains and vibrant sea.

Taba heights boasts of four 5-star hotels including; the Hyatt Regency which houses 426 generously sized The natural setting is complemented by an rooms and suites all offering magnificent sea, pool or offering of luxury five-star hotels provided mountain views. Large balconies allow the rooms to unparalleledly by worldwide hospitality leaders. function as suites. The Hyatt regency resort is set in The resort incorporates soothing spas, a fully 368 hectares of landscaped gardens and lagoons and comprehensive 5-star water sports and diving features a 3105 square meter sea-water lagoon facility, a championship 18-hole golf course and surrounded by 34 spacious lagoon rooms that offer an international tourist marina serving the Gulf of breathtaking beach and lagoon views, in addition to a Aqaba. Its natural setting is self sufficient in spectacular beachfront setting Presidential villa. supply of the four classical elements of nature

Earth - spectacular Sinai Desert, Wind - the soft, The Intercontinental resorts Taba Heights consists dry sea breezes, Water - Turquoise coral reefs of three separate structures - the Pentagon, the Atrium under the Red Sea waves and Fire - year-round and the Crescent - linked by tropical garden pathways, sunshine that lends a bronze glow to sun-kissed all resting on a prime waterfront location. Its 503 guest skin.

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rooms and suites offer breathtaking views of the At the heart of Taba Heights, the Three Corners El sea, pool or desert mountains and are tastefully Wekala Golf Resort is just across the greens of the appointed with all the amenities of a luxury resort. expertly maintained 18-hole golf course which rolls A private sandy beach, two tennis and one squash softly toward El Wekala's beautiful private beach. The court, two free-form swimming pools and one salt resort has 214 rooms with sea, pool, garden or water lagoon plus two children's pools are part of mountain views.this 5-star resort member of the Intercontinental franchise covering 1,112 acres of some of the most beautiful land on the coast.

The 18-hole championship golf course which hosts the Taba Heights Marriott Beach Resort is in a

annual Taba Heights International Pro-Am secluded world of its own situated in over 44 acres

tournament, stands Taba Heights out in the region. of lush gardens and greenery. This 3 floor, 398

Designed by John Sanford, a member of the American rooms resort also has one Presidential suite with

Society of Golf Course Architects, the course meets outdoor Jacuzzi plus three Executive Suites with

American and European architectural standards for indoor Jacuzzi, 2800 square metres of pools and

golf courses. The gentle slopes of the fairways take full waterfalls with over 500 square metres of pristine

advantage of both sea and mountain views and the private beach.

course offers an impressive 7100 yards between the 1st and 18th hole. The total course area cleverly spans

Sofitel Taba Heights is also a uniquely designed the central section of the resort's overall property,

hotel, inspired by traditional Oriental architecture. linking the different hotels and beachfront.

It draws on ancient traditions and modern trends to create a unique, enchanting resort atmosphere. This exceptional resort is an all-inclusive property with easy access to the private beach, 3 exquisite

Taba Heights International Marina is the ideal port of restaurants, 6 swimming pools, a fitness centre call for seafarers who wish to take a voyage up the Red and 3 meeting rooms. Just 20 km from downtown Sea and cruise the Gulf of Aqaba. Granted an Taba and 40 km from the airport, every last one of International Tourist Marina license in July 2005, the the Sofitel's guest rooms has a private balcony and Taba Heights Marina is the first legitimate port of garden patio facing the Red Sea. Sofitel has 442 entry in the region. The Marina currently has rooms in total, including 269 Deluxe sea view, 142 approximately 11,500 square metres of water area, Garden view, 2 Presidential suites, 16 Family with depths of between 2.5 and 3 metres near the main suites, 4 Junior sea view suites, 3 Junior garden building. The marina can comfortably accommodate view suites and 6 rooms adapted for disabled.up to 50 yachts and provide overnight mooring.

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DEVELOPER This development has since evolved into a fully independent town with a strong infrastructure, residential population, and established reputation.

OHD has expanded its operations internationally, broadening its development scope to cover seven

Orascom Hotels & Development (OHD)countries across three continents. The company is now active in Egypt, Oman, Jordan, UAE, Switzerland,

CASE listed Orascom Hotels & Develpment is the Mauritius, and Morocco, with plans to enter additional

primary designer, developer, contractor and countries. The founder of the Group, Egyptian

marketing force behind the highly successful El businessman Samih Sawiris, still holds a majority

Gouna Egypt, Taba Heights, Tala Bay Jordan and stake controlling approximately 60% of the

The Cove projects in the United Arab Emirates. outstanding capital together with his family.

OHD is also one of the key private players in the tourism sector and the largest single hotel owner

Both companies are part of the Orascom Group which in Egypt with over 118 million square metres of

since its creation in the early 1960s has navigated the land currently under development, and as a fully

complex social and economic dynamics of a changing diversified tourism and real estate developer,

region, emerging as the largest and most successful OHD specializes in the development of fully self-

conglomerate in Egypt, complete with a world class sufficient destinations complete with real-estate

multinational telecom and industry leaders across properties, hotels, marinas, golf courses, shopping

several economic sectors. centres, and restaurants.

With a land bank of approximately 127 million square meters, the owning company Orascom Development Holding AG is a global town developer specializing in planning, building and operating integrated, self-sufficient leisure and residential towns around the world. It is listed on the SIX Swiss Stock Exchange and the Cairo Alexandria Stock Exchange CASE.

OHD is the operating corporate entity in Egypt. El Gouna, the company's flagship town on the Red Sea coast, began as a simple real estate project.

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EL GOUNA

LOCATION

ARCHITECTURE

environmentalists, and sports enthusiasts make their home in El Gouna giving the town an eclectic and sophisticated international flavor. Over 2,500 real

Another massive resort town development built estate units sold, the town has a private airport and a

and operated by Orascom Hotels and European standard hospital.

development, El Gouna is a self-contained town The resort's many attractions are contained in a

on the beautiful Red Sea coast that offers an beautiful, immaculate and aesthetically unified

unrivaled lifestyle. Built on 36.8 million sq. setting.

meters total land area with 11 million sq. meters total area developed, El Gouna stretches along 10 km of beachfront. It has its beginnings in one man's search to find the most beautiful spot on the seaside to build a house and a small boat jetty. El Gouna is conveniently located just north of Around two decades ago Samih Sawiris, Hurghada (the foremost tourist resort of the Red Sea Chairman of Orascom Hotels & Development, El coast and an international center for aquatic sports) on Gouna's parent company, found that beautiful the west coast of the Red Sea just a four hour flight spot, conveniently located just north of Hurghada from Europe. The town is 22 km from Hurghada on the west coast of the Red Sea. It wasn't long International Airport and 450 km from the Egyptian before Sawiris' friends, struck by the splendor of capital Cairo. the azure waters and dramatic backdrop of El Gouna is home to 14 spectacular hotels, 100 mountains, asked to join him. In this way the town restaurants, bars, and eateries, an 18-hole slowly blossomed into the vibrant community it is Championship Golf Course, 2 Angsana Spa outlets, 4 today with15,000 residents spread across 20 public-access beaches, 9 certified diving centers, 5 Islands and lagoons boasting a superb kitesurfing centers, Horse stables, go-karts, paintball infrastructure and the completeness of a town. and a Tennis academy and football team.

The 5-star Mövenpick Resort & Spa, Steigenberger Golf Resort and Sheraton Miramar Resort lead a collection of 11 other 4 and 3 star hotels with a total of 2,702 hotel guestrooms. El gouna's hotels are certified

The resort's award-winning architecture brings by the Green star hotel initiative as environmentally

together a blend of traditional and modern friendly. The resort-wide transportation system in El

elements and is the work of an impressive list of gouna includes bus, boat, and tok tok.

prestigious architects including Italian Alfredo Freda and American Michael Graves. A creative and diverse community of entrepreneurs, artists,

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MARINA

RESIDENCES

HOSPITALITY

on the northern side of the marina. Buzzha Beach: Located on Northern Mangroovy Beach. Tawila Island: a secluded beach at Tawila, just over an hour

Typical of an Orascom development, El gouna from El Gouna with sparkling white sandy beaches.

houses two Marinas including the Abu Tig Gobal Island: Located around two hours' distance

Marina: The first purpose built yacht marina in from El Gouna. Mahmeya Beach: located just 1 hour

the Red Sea, Abu Tig is in a league of its own from El Gouna.

among Red Sea marinas both for its standard of Banyan Tree Group one of the world's top names in

services and harbor town which houses El professional spa management, boasts two spa

Gouna's most exclusive shopping and dining. Abu locations in El Gouna: at the Mövenpick Resort & Spa

Tig has been the harbor of choice for several and the El Gouna Golf Club. Gene Bates and Fred

international yacht rallies, such as the Med-Red, Couples coupled to design El Gouna's 18-hole

Vasco de Gama and Blue Water rallies. The championship golf course which boasts year-round

marina town was designed by the Italian architect golfing in a setting where players can feast their eyes

Alfredo Freda and the basin by French Sogreah on stunning views of mountains and endless water as

Ingenerie. Abu Tig Marina has berthing for 117 the course challenges the strength, ingenuity, and skill

boats. Abu Tig Marina houses a multitude of boats of novice and professional alike.

and yachts and boasts a fine selection of fashionable boutiques with intimate restaurants, cafes and bars. El Gouna's second marina has a capacity of 40 vessels and harbors El Gouna's many diving boats. It offers berthing for El Gouna neighborhood offers exclusive private villas approximately 240 boats, dry dock and repair and cozy apartments in the heart of the town. All services, with a ship lift for vessels up to 19 properties are waterfront and feature a variety of meters, and it has a diesel fuel station, electricity architectural styles, sizes and locations; lines, channel-6 VHF and a maintenance center. Fanadir: Built in Andalusian and Modern styles,

Fanadir offers the finest waterfront villas and apartments.

Golf: Award-winning architect Michael Graves El gouna has an excellent water life boosted by

blended traditional Arab architecture with modern multiple beaches and islands; Zeytouna Beach:

abstract design to create these colorful villas The lively and beautiful Zeytouna Beach is

overlooking the blue lagoons and lush greens of the located on its own island surrounded by sea and

18-hole golf course lagoons. Mangroovy Beach: Located just north of the Abu Tig Marina. Marina Beach Club: Located

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Hill: Designed in Tuscan-style homes by Italian the hillside. The heart of the development, the Hilltop architect Alfredo Freda, these exclusive villas and Village, offers one, two and three bedroom apartments apartments offer breathtaking views of the sea on and grand two bedroom townhouses, all with one side and a panorama of El Gouna on the other. exceptional views of the Red Sea, the golf course, the Mansions: Inspired by the gates of Old Cairo, the lagoons or the crimson mountains.Mansions plots allow owners to design and build their own dream estates, providing the finest in exclusive living.

Orascom Hotels & Development (OHD)Marina: Located in the cozy, vibrant marina compound, the marina apartments feature

El Gouna is also developed by the Orascom Hotels and Yemeni-style architecture with Arabesque details Development. (See OHD description at Taba Heights)and fabulous marina views.

Nubian: Featuring lofty domes and cozy interior spaces, Nubian Villas were designed by award-winning Egyptian architects Ramy El Dahan and Ahmad Hamdy in the style Egypt's southernmost villages.

White: Designed by prominent Egyptian Architect Shehab Mazhar, the beachfront White Villas personify the warm elegance of Mediterranean architecture and features sea view, golf course and mountain views.

Rarely seen on the Red Sed coast, El Gouna has another golf resort; the ancient sands golf resort. Its luxury apartments are set amongst an 18-hole Karl Litten designed championship golf course overlooking an azure lagoon which flows into this gated development from the sea. Opulent three to five bedroom villas are draped around the lagoon and golf course, while stately two and three bedroom twin villas and apartments cascade down

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EL GOUNA

Movenpick Spa and Resort El Gouna

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INTRODUCTION THE DEVELOPMENT

LOCATION

When Hussain Sajwani, founder-owner and Launched during the Arab Strategy Forum in 2006, the Chairman of the DAMAC properties, decided to agreement for this ultra ambitious project was signed look the way of Africa, you wouldn't expect between Mr. Khaled Makhlouf, Chairman of the anything less than the stunning 320 million sq. Egyptian Tourism Development Authority and feet master of all master development on the red DAMAC chairman Hussain Sajwani right in the sea coast, Gamsha Bay. A development that presence of the Prime Minister of Egypt, Mr. Ahmed comprises marinas, 5-star hotels, shopping Nazif. The township will be built in five phases over centres, golf courses, extreme sports adventure 10 years, with the initial components of the first phase theme park, offices, villas, townhouses and over completed within five years. Gamsha bay offers 50,000 residential units; luxury that's out of this residents an open scenic environment with 39 kms of world. beautiful coastline and 25 kms of beaches with its

coral reefs and hills.

Gamsha's nine development township zones have been designed to accommodate over 50,000

Set in the choicest location on the Red Sea Riviera residential units. Development zones include;this massive development is within driving distance to Egypt's capital Cairo, and close to Red Sea Retreat: Unrivalled access to the beautiful Sharm El Sheikh (the administrative hub of beaches with fantastic views of the Red Sea the Retreat Egypt's South Sinai Governorate), Hurghada (the offers top quality townhouses, Villas on the beach, red sea's most popular tourist destination), and El beach canal villas, apartments, a clubhouse on the Gouna. Gamsha Bay which is located 60km along beach, parks and pedestrian promenade. the coast north of Hurghada is the region's largest township divided into 9 distinct zones Gamsha The Enclave: Located along a superb beach with Marina, Marina Park, Coral Golf Course, Sea beautiful colourful reefs and marine life The Enclave View Crescent, Creek Retreat, Gamsha Bay, offers Maldives Villas and resort hotel as well as a Peninsula Luxury Villas, Downtown Gamsha and beach resort with Beach Park and pedestrian Extreme Sports World Theme Park. promenade including many water sports activities.

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Riviera Residences: The Riviera Residences Downtown Gamsha: Downtown Gamsha is the central resort of the entire 320 million sq metre leisure includes townhouses and apartments, a waterfront developments where there is great access to all the plaza, boardwalk, and beach park & beach plaza. resorts facilities. There are a selection of properties From here the magnificent Red sea and buzz of including villas, townhouses, and apartments. The activities at the Bazaars by sunrise and the section will also be home to the schools, sports centre, exclusivity of town houses by sunset can be hospital, retail mail, restaurants and of course parks. viewed.

Creekside Villas: These villas are superb and ideal for Royal Crescent Golf Course: Here the horse riding as they are situated along equestrian properties including both villas and townhouses riding paths, water canals and also a beautiful lagoon. are located in splendid green landscaped settings In addition to beach villas and estate villas, the resort interspersed by waterways and lakes with direct also features parks and playgrounds and other access to the 18-hole golf course fairways which community facilities.spread throughout the site weaving its way

between the villas and resurfacing again right at X-Treme Sports: The extreme sports world has a the beach shoreline.variety of exciting and daring indoor and outdoor activities and sports including a driving academy, The Royal Crescent also features a golf academy, archery, equestrian, skateboarding and BMX, fitness centre, lagoon drive and main boulevard.paintball and of course a wealth of water sports.

Emerald Park: This section offers a tranquil Gamsha bay is estimated to cost US$16 billion.relaxed living environment as the villas are

situated right in the park fringed by fabulous sun soaked beaches. The beautiful park provides an oasis haven with ample sun spots and shade environments including a beach park, canal and DAMAC Propertieswaterfront plaza all with a stunning backdrop of the Red Sea renowned for its outdoor lifestyle and DAMAC Properties, a part of DAMAC Holdings and physical allure the Middle East's largest private-sector luxury

property developer, was established in 2002, as a Marina Park: As the name suggests the resort private residential, leisure and commercial developer features a Marina and cruise liner marina, souq, in Dubai and the Middle East. Since then, DAMAC retail, restaurants and hotels; also a selection of Properties has expanded rapidly into North Africa, marina villas, townhouses and apartments. Jordan, Lebanon, Qatar and Saudi Arabia.

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DAMAC Properties have already delivered more than 3029 units into the market with projects at IMPZ (The Crescent), TECOM (Executive Heights), JLT (Lake View and Lake Terrace) and the Marina (The Waves and Marina Terrace) already been delivered and is expected to hand over approximately a further 7,100 units in 2009/10 across the GCC region (Gulf Cooperation Council).

The Dubai headquartered company's projects are located in the most desirable and exclusive locations and homes are built to a high quality specification that has become synonymous with the group. DAMAC Properties aims to develop projects that include residential, commercial and leisure facilities that will create an integrated community.

The DAMAC group was founded by a self-driven ambitious entrepreneur, Hussain Ali Habib Sajwani a UAE national who is currently its Chairman.

Still ongoing projects include Damac Heights, Emirates Gardens 1 & 2, Executive Bay, Flamingo heights, Executive Heights, Madison Residences, Marina terraces, Lake view, Lincoln park, Hyde park (Cairo) and many more across the Middle East and North Africa.

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SAHL HASHEESH

ARCHITECTURE

THE DEVELOPMENT

distinctive in character and ambience. Sahl Hasheesh's resorts & residences have been carefully created to compliment the natural beauty of the region and style

The Sahl Hasheesh International Resort of its clientele.

Community is located approximately 18 km south of Hurghada, and is set to be the largest fully integrated resort community on the Red Sea Coast, Egypt.

Sahl Hasheesh is envisioned to develop into an The community enjoys expansive views of the integrated seaside resort city of world class standards Red Sea Mountains and coast line, clearly through quality urban design and planning. The 1st exhibiting the beauty of physical natural two phases of the development, Phase 1 "The Vintage" landscape. The location is also highly accessible and Phase 2 "The Grand", was designed by RTLK UK by all means of transport. LTD a globally renowned practice of designers and

architects while the final and 3rd phase Sahl Hasheesh Sahl Hasheesh encompasses an area of La Mondial Master Plan was designed by USA based 6 approximately 41 million square metres (4100 decade old designer WATG.hectares), about 2/3s the size of Manhattan in New York. The overall land area is to be developed in phases, on the basis of an original master plan and design intent which is to create distinct

The Vintage phase has 1,591 operational hotel rooms 'neighborhoods', each with a unique character and

with another 2,506 rooms due 2010/2011. Villas and theme

apartments in operation are 460 while 1,185 more are due 2010/2011. Its 2x designer golf courses are also

Land within Sahl Hasheesh is developed by the due in 2010/2011 while 31,000m2 of retail and

Egyptian Resorts Company (ERC, the master entertainment area has been delivered. Phase 2 has

developer), with each plot of a different size and 2,210 hotel rooms due in 2010/2011 plus 380

configuration being offered for sale to third party operational rooms; 360 villas and apartments are also

sub-developers.due 2010/2011. 500,000 m² of mixed residential and entertainment is under planning. The La Mondial is

Each development plot represents the site for a also under planning.

distinct building project such as a 'hotel', 'resort', 'villa' and other uses of a touristic nature. Each

A great Pharaonic Gate greets guests as they enter Sahl abode has been individually designed with a

Hasheesh, immediately transforming the guest into the unique architectural flavour, making each

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rich, historic past of the region representing a VIP visits. monumental entry point.

The Pier offers breathtaking views across the entire A beautiful Arrival Piazza is located in the heart of bay and of Old Town. While on the Pier, a look into the Sahl Hasheesh. It frames the sea with an water will uncover the crystal clear aquatic Arabesque design, which harmoniously blends playground of the abundant and colourful varieties of style and luxury with the natural features of the local fish and sea life. The Pier stretches out into the environment. Along the length of the Piazza, a Red Sea, providing a beautiful walkway in which to flowing fountain adds to the serenity and magic of view the exotic water species and the Sunken City the location. The Piazza features a large, modern below. The Sunken City is replica of an underwater wooden gazebo, golden domes, coloured glass temple of structures and columns and serves as a lamps and hand-crafted chandeliers. The Arrival playground for an array of colourful fish, popular with Piazza is quite large, accommodating up to 15,000 snorkelers.standing guests and 2,500 sitting guests. The Piazza can also be sectioned off for smaller, more Sahl Hasheesh features hotels, resorts, residential intimate moments and events. communities with many of the world's most well-

known names in development, quality and high levels The Arrival Piazza is designed for flow. Guests of service. Five resorts currently operate in Sahl can easily enter through the main entrance, along Hasheesh; Andalous Apartment, Old Palace Palm with ten secondary side entrances that lead Beach, Premier Le Reve and Pyramisa Hotel with directly to different terraces on five levels. The seventeen others; Azzurra, Andalusia, El Baron, Lana Arrival Piazza is the focal point of the Phase 1, Old Hills, Little Buddha, Ocean Breeze, Old Town Town Area with its 158 spout fountain, designed Commercial and Apartments, Paradise Gardens, with an Arabic touch and tasteful lighting Pharonic Village, Premier Rendez-Vous, Premier providing an incredible night show of water jets Romance, Pyramisa Sunset, Serenity, Sunset Pearl, and dancing lights. Traveline, Tropitel, Veranda, Zoser nearing

completion.The Sahl Hasheesh site is currently planted with over 5,000 Palm trees, over 14,000 trees, over Current developers in Sahl Hasheesh include 4 Cairo 4,500 shrubs and more than 224,000 m2 of grass. Alexandria Stock Exchange CASE listed Orascom There is 9 km of beachfront and a boardwalk for Hotels and Development, Pyramisa Hotels, Palm Hills cycling and walking the full length of the development and Rowad Misr Tourism investment. shoreline. It also has a functional helipad adjacent an administration office which can be used for any

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DEVELOPER

Egyptian Resort Company

ERC is a master developer of international standard communities on a fully-integrated management basis, incorporated in Egypt and headquartered in Cairo. ERC acquires broad acre land holdings suitable for high quality development at nominal value, creates a master plan with some of the world's leading architectural and urban planning firms, invests in state-of-the-art infrastructure, implements design guidelines and community management rules and regulations, and then on-sells individual pre-designated plots to sub-developers and investors. ERC exclusively supplies utilities (water, electricity, communications) within the developments, through our project partners, and implements world class community management schemes.

ERC was incorporated in 1995 and acquired land for the Sahl Hasheesh development in 1996 at the rate of $1/m2. The CASE listed company maintains a healthy income statement and balance sheet following the plot sales from ad-infinitum multiple recurring revenue streams from the supply of utilities through its project partners (water, electricity, communications), as well as from its community management and maintenance fees.

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SERRENIA

RESIDENCES

RECREATION

Palace features a built-up area of 3,780 sq. metres and a land area of approximately 15,000 sq. metres, offering a modern take on what a contemporary

With an architecture inspired by the wind shaped Pharaoic palace would be like. Their cathedral-like

dunes of its surrounding desert, Serrenia, an ultra ceilings that rise 10 metres into the air offers sweeping,

luxury development, the only one of its kind, sits unfettered views over the Marina and beyond, to the

intimidatingly in the multi mixed development distant sweep of desert and sea.

resort community of Sahl Hasheesh along the red sea Riviera. The credit for its uniquely creative

In addition to the Palaces, Serrenia's residential pool architecture, which makes Serrenia an exquisitely

also includes; The Luxurious Villas which have a stunning sight of extreme luxury, is held by world

built area of 1,423 sq. meters and a land area of renowned architects Foster & Partners.

approximately 4,000 sq. meters, is designed and tailored, according to bespoke requirements, to meet

The architecture and its landscaping afford total individual, personal specifications, all with their own

privacy for all residents, while at the same time swimming pools, beautiful water features and lush

allowing Serrenia to blend seamlessly into this private gardens.

ageless environment, in a sustainable, non-intrusive manner. It incorporates a series of

Large Villas and Private Villas, each with its own cascades, lagoons and dynamic canals creating a

swimming pool, protected outdoor area, lush greenery cooling atmosphere of tranquility and exclusivity.

and cool of shaded terraces and patios. Detached The development is an incorporation of

villas, Boulevard maisonettes and the Apartments sumptuous residential properties, a seven star

conclude its residential offering each affording hotel, an International Marina hub, an 18-hole

awesome views of a range that could be, the championship golf course, an aqua park and a

international marina, deserts, mountains or the world class spa interspersed by interludes of green

timeless natural colours of the red sea.areas, lagoons, pools and gardens.

Its Spa club house is an oasis of water amidst the desert sands; this exquisitely secluded retreat offers undisturbed relaxation and total privacy to a global guest list. The residential properties include the five

Serrenia Palaces touted as the most exclusive residences in the world. These truly unique residences are located on their own private island, and accessed via a secure bridge. Each bespoke Serrenia's unrivaled opulent delivery of tailor-made

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residences is further boosted by an array of includes separate male and female Thermal Suites ravishing other developments and services. A with multi-room, multi-temperature steam baths, seven star hotel easily recognizable by its exterior saunas, cold plunge pools, indoor Zen relaxation areas design inspired by the beauty of the Red Sea and outdoor relaxation gardens plus a wide variety of corals, and the visual appeal is as individual and fitness activities such as yoga, pilates and meditation.extraordinary as the pyramids. Other facilities include; spa featuring a spectacular elevated infinity pool, a relaxing passive spa and an energetic active spa, a 330 berth marina with

This $3 billion ultra luxury development is an world class facilities accommodating the largest

ambitious stride developed by Vantage Real Estate of super yachts, a striking Yacht Club building

Development a subsidiary of Vantage Holdings SA with 360 degree views of the marina, an 18 hole

and is designed by Foster and Partners and they have championship golf course with clubhouse and

made wide use of solar panels, recycled water and golf academy, Family water park, Tennis and

natural air cooling methods in the design so that the squash courts, Riding trails, Beach club and

resort is environmentally sustainable. Buro Happold diving club, Business centre with meeting rooms

are responsible for engineering services design. and library, Exclusive boutique shops and

Parsons Brinckerhoff are responsible for the project restaurants, Casino and nightclub, Extensive

management. Dar Al-Handasah the biggest and best landscaped communal gardens, walks and

engineering company in the Middle East are the local playgrounds, Children's club with crèche

engineers for the project. European Golf Design facilities.

(50/50 joint venture between IMG and the European Tour) designed and constructed the golf course. Camper and Nicholsons the oldest companies in the world specialized in marina design and operation

This princely resort has a private air strip, a designed the Marina.Camper and Nicholsons developed luxurious private Marina which features 330 berths large enough, and deep enough, to take the biggest of yachts. The Marina Hub will be home to the most

Vantage Holdings SAexclusive, attractive and luxurious retail environment comparable to the best in Europe.

Is a real estate holding company owned by the The Golf course features two loops of nine holes;

Shaheen Business and Investment Group, SBIG. the design means a course varying from 5,600

SBIG has its origins as a family-owned business with yards to 7,100 yards, with a par of 72. Its SPA

HANDS ON

FACILITIES

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agricultural and industrial roots in Jordan; SBIG, Luxembourg, Pakistan and Albania.still owned and operated by the Shaheen family, has rapidly grown into a leading multinational SBIG is a holding company registered in the European business conglomerate, with global interests. Its Union jurisdiction of Luxembourg and operates in five key operating offices are in Amman, London and principal sectors: real estate development, Washington DC. and now employs more than infrastructure development, logistics and life support 3,000 people worldwide. services, automotive, and investment banking

advisory services, but with important interests in SBIG encompasses numerous, varied businesses trading, commodities, food processing and food globally, including the Middle East, Europe, packag ing , i n fo rma t ion t echno logy and North Africa and North America, and is telecommunications, and agriculture.particularly active in Jordan, Egypt, Algeria, Libya, the United Arab Emirates, Qatar, the United States of America, the United Kingdom,

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SOMA BAY

GOLF

WEATHER

averaging in the low to mid 20º C. Summer temperatures average in the low 30º C. Rainfall is very rare at Soma Bay. Every few years, however, it does

Soma Bay is an exclusive Red Sea coastal resort in indeed raineven fairly hard at times, but for relatively

Egypt, just a short 4 hour flight from Central brief periods.

Europe, with year round sunshine and mild temperatures. About 5km in length and 2km wide,

In summer, a dry breeze keeps the climate comfortable the peninsula is accessed via a 7km private road

and temperatures moderate. Dry desert wind keeps through a single controlled entry gate. Luxury

humidity levels low. Soma Bay is blessed with an hotels, championship golf course, a thalasso spa, a

unbeatable combination of low humidity and diving and kitesurfing center all make Soma Bay

maximum mean temperatures in the mid 30º C.an ideal place for relaxation and recreation.

Soma Bay is located on the eastern shores of Egypt on the Red Sea Riviera. Just 45 kilometers from Hurghada International Airport, the ten Soma Bay features one of Egypt's most spectacular 18 million square meters, self-contained community hole championship golf course named "The of Soma Bay is a peninsula surrounded on all sides Cascades,” designed by golfing legend, Gary Player. It by the sea. The resort location boasts some of the is a Golf and Country Club which provides a sporting most beautiful sandy beaches of the Red Sea and and social focal point for the peninsula's community, panoramic views of desert, mountains and blue centering on one of Egypt's most stunning desert links-skies. style golf courses. The Gary Player designed course is

the first in many ways in Egypt. Not only is it the first Soma Bay features luxury Red Sea hotels golf course open for play on the Western Red Sea including a Sheraton, a Kempinski, a Robinson coast, it is the first Championship Course in the Club and one of the members of The Leading Middle East designed by one of the "Big Three" (Gary Hotels of the World, La Résidence des Cascades Player, Jack Nicklaus, Arnold Palmer). The 18 hole, golf resort. The Breakers Diving & Surfing Lodge par 72 course offers memorable views of the lush is also present. green fairways that contrast dramatically with the

rugged desert and the clear blue sea waters.

The Cascades was recently ranked the Number 1 golf course in the world outside of Europe for the second

Soma Bay enjoys year-round sunshine. Winters year in a row by the readers of "Golf Journal. Adjacent

are temperate, with daytime temperatures to the Championship course, is the 9 hole, Par 3

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Challenge Course, also designed by Gary Player. in association with Les Thermes Marins de Saint A Club House La Résidence des Cascades is Malo, one of France's leading pioneers in this field. It located at the golf resort and sits at the center of the is the largest thalasso-therapy spa in the region.Championship Course.

Kempinski Hotel Soma Bay - The first of this prestigious hotel chain in Egypt, the Kempinski Hotel Soma Bay features 325 graciously appointed guest rooms and magnificent suites including two

Soma Bay offers 5 beautiful resort hotels; presidential suites. It is designed as a Moorish fortress with oriental accents; this luxury hotel features an

Sheraton Soma Bay Resort - The 312 room impressive system of pools, waterfalls and lagoons resort is notable for its pharaonic architecture and and extends over 7,000 m2. its impressive central swimming pool that looks out upon one of the most beautiful sandy beaches on the Red Sea.

Robinson Club - this 300-room resort is Soma bay's Marina, "Marsa Tubya" is located inside distinguished by its arabesque architecture, its the bay of Ras Abu Soma (The name Soma Bay was wide sandy beach, its lush landscaping and its referred to by Egyptian maps and Admiralty Charts wide range of activities and animation programs. before 'Soma Bay' it was coined recently). It can accommodate over 70 boats the North basin has a draft La Résidence des Cascades - positioned on the of three meters at M.S.L. while the South Basin's highest point of the Peninsula of Soma Bay, and a maximum draft is four meters. Yachts to 45 meters can member of The Leading Hotels of the World, this be accommodated.resort sits majestically amid The Cascades golf course with panoramic views of the fairways and sea. It also houses the grand thalasso-therapy spa "Les Thermes Marins des Cascades. Les Thermes

Located on the northeast coastline of Soma Bay are Marins des Cascades (TMC) is a spa and thalasso

Reef Villas which have the open sea literally at their center, TMC has been built as an integral part of

feet. On the south of the peninsula, Bay Villas La Résidence des Cascades but operates as a

overlook and have access to one of the most beautiful stand-alone unit servicing the entire Soma Bay

beaches on the Red Sea offering views of the bay and community. A member of The Leading Spas of the

the Red Sea Mountains in the background.World, TMC has been established and is operated

HOTELS

MARINA

VILLAS AND RESIDENCES

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Golf villas are located within The Cascades that is similar in layout to the Abu Soma Island in Red Country Club and its Gary Player designed golf Sea Governorate. The company was listed on the Cairo courses - their architecture echoing that of the Alexandria Stock Exchange in 2002. The company is resort, La Résidence des Cascades. They have held by four principal entities; The Egyptian Finance views of the courses and their lakes, with the Red Company (EFC) Group is a leading investment and Sea and the striking Arabian Desert Mountain financial institution, active in Egypt since 1979 which Range in the background. The villas which are on contributed as founding shareholder to Xerox Egypt two floors include a garden of approximately 120 and many others. The Egyptian Investment Company m2. Marina apartments are located in Soma Bay's (EIC) an investment company focusing on the little village (commercial & entertainment center) Egyptian tourism sector established in 1993 by EFC overlooking the marina and its "Lazy River", together with a consortium of international banking which is directly adjacent the villas. and multi-national financial institutions. Hana

Investment Company a part of the Olayan Group, a The Soma Breeze Hotel Residences complete a leading private sector business entity in the Kingdom magnificent array of real estate on the Soma bay. of Saudi Arabia and the European Investment Bank These breeze residences consist of 158 fully (EIB) which holds a small beneficial interest in SBDC.furnished luxury apartment units with common central facilities usually associated with luxury The company holds interests in Soma Bay Dive resort hotels: swimming pools, gymnasium, Center, Soma Bay Touristic Transport and Soma Bay concierged reception, engineering maintenance, Hotel. Soma Bay Development Co. is led by Dr. Farid central air-conditioning, children's club, and W. Saad who has served as Chairman and Chief housekeeping. Located on a choice 42,000 m2 site Executive Officer of the Company since its surrounded by the Cascades Championship Golf establishment in 1991. He is also Chairman of Course, with the Red Sea shoreline immediately Egyptian Finance Company and Egyptian Investment beyond. All apartments have direct views on the Company.golf course and the sea.

Soma Bay Development Company

The Master Developer of Soma Bay was established in 1991 under the Investment Regulation Code to create a tourist community

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NILE CITY TOWERS

THE STRUCTURE

fin walls generates a wide selection of orientations for the hotel rooms and apartments. These fin walls are reflected on the external façade, giving the tower its

Being one of the major coastal tourist destinations dynamic appearance.

in Egypt, the Nile boasts of many fascinating developments along its shoreline. The Nile is a

On the west side overlooking the river - the tower major north-flowing river in Africa, generally

bulges out at the upper floors to maximize the views regarded as the longest river in the world. The

from hotel rooms and apartments. On the east side the northern section of the river flows almost entirely

tower is pulled out as a triangle on the lower floors to through desert, from Sudan into Egypt, a country

offer maximum stability. These opposite extensions whose civilization has depended on the river since

make the overall tower seemingly lean over towards ancient times. Most of the population and cities of

the Nile. Egypt lie along those parts of the Nile valley north of Aswan, and nearly all the cultural and historical

While enhancing the perspective when looking up sites of Ancient Egypt are found along the banks

from the foot of the tower, this geometry also makes of the river.

the tower seem in motion. This seeming rotation is further enhanced by emphasizing the diagonals

Along the coast of this ageless water body is one running along the north and south facades.

of the most magnificent and top-drawer The façade geometry on the west façade culminates at

developments - the Nile City Towers - a mixed the lower levels in a volume overhanging the road

development of residential, hotel and retail. Nile towards the river, housing the common program of the

Tower is designed as a gracious volume that tower.

elegantly borders the Nile River in the heart of Cairo.

At the foot of the tower, the façade drapes down over the large column free space next to the tower footprint where it forms a continuous glass plaza. The impressive architectural design of Nile City was undertaken by Atelier D'Art Urban, a prominent The Nile Tower is one of the most ambitious urban Belgium architectural firm established in 1979.development projects ever undertaken in Egypt Essentially comprising of young architects, the Atelier combining a business address, shopping venue, is well known to have inspired the architectural hotel and residence. The main structural elements character of many cities where it has introduced its of this twin 70 storey hotel and apartment tower work.are concrete fin walls that rotate gently over the

full height of the tower. The gradual rotation of the

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RETAIL

TENANTS

HOTEL

entrance for large tour groups with customary hotel facilities including a reception desk, luggage area, seating area, and a few small shops. The first floor will

A central sky-lit podium rises from the ground have an impressive double-height main lobby for

level to the third floor and joins the two towers. business travelers and individual guests accessible by

From the Nile Corniche the shopping area is two vehicle ramps and staircases. The second floor

accessible through two entrances at street level, will have a business center, meeting rooms of different

one at each end of the pedestrian gallery. A third sizes, a 480 person ballroom, and hotel administration

entrance is incorporated in the north façade of the office. The third floor will have restaurants, private

podium. In front of the Nile Corniche entrance dining areas, lounges, and two outdoor terraces. On

there are two car drop-off areas.the roof of the hotel tower will be a swimming pool, a fitness area, and a large leisure area with dining

The commercial center houses a selection of facilities.

elegant shops and restaurants which will satiate The 25-floor edifice offers an incomparable view of

the appetite of a world- class gourmet. On the Cairo with an interior architecture that perfectly

ground floor there are 8 movie theatres. Their reflects the building's modern combination of luxury

entrances and a foyer are grouped beside the and tranquility.

fountain of the atrium. The projection rooms for the 8 cinemas are located at mezzanine level

The Nile towers is home to the offices of highly regarded corporations in Egypt and the middle east

The Hotel Management Agreement was signed such as; Orascom telecom, EFG Hermes, Orascom with Fairmont, one of the world's leading hotel Hotels and Development, Procter & Gamble, chains. The Hotel will form the third and final Commercial International Investment Company, Intel, tower of the City's most prestigious office and Motorola, Oracom Construction Industries, AIG retail development in the Nile City complex, Egypt, the Egyptian Centre for Economic Studies, luxury 552 room hotel in Cairo, Egypt comprising Egyptian Cement Company, Leo Burnett, Matrade, of 704 bays and rising 25 floors with a total built- Mobinil, Osool, Regus, Rifada International, Sabic, up area of 54,834 sqm. and Sumitomo.

It has been designed with a distinctive shape The basement contains 4 floors of parking totaling + allowing guests to have sweeping views of the 1200 car parking places, and some technical rooms. Nile. The ground floor will have a dedicated The South Tower apartments have a private parking

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area on basement level minus one. The hotel operator also has a dedicated parking area on this The Orascom Group which comprises of four major level. From the parking levels, the ground floor of companies is one of the largest and most successful the complex is accessible by lifts and stairs. conglomerates in Egypt. Orascom leads the way in the Different lifts, or banks of lifts, give access to the telecommunications, construction, development, and different parts of the complex. The Nile Tower tourism markets. The group was founded by 80 year forms a valuable addition to the skyline of Cairo. old Onsi Sawiris in 1950.

Nile City Investment Company

Established in 1996 and listed on the Cairo Alexandria Stock Exchange in 2001, Nile City Investment is the mastermind behind the Nile City Towers complex a $200 million ( Egyptian pounds LE 1.1 billion) office, commercial and residential complex hosting most of the Sawiris-owned empire.

Nile City Investments was established with an authorized capital of LE 1 billion and a paid-in capital of LE 625 million. It is a joint venture between Saudi investor Fahd Shobokshi and the Sawiris family of the Orascom group.

The Shobokshi Group, a diversified Saudi Arabian conglomerate, was founded in 1965 by Mr. Fahd Shobokshi the current Chairman of the Nile City Investment Company. Its business interests span; publishing , real estate, airlines contracting, building materials, furniture, maritime, catering banking transportation, and automotive.

DEVELOPER

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The Nile City Towers

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International Corporate Research (ICR) is a department-brand of Stakes Capital Limited. We are experts in Research, Assessment and Evaluation studies and in developing Assessment and Evaluation Models. ICR research capabilities span all aspects of research with specialty in corporate research, market intelligence, price survey, benchmarking, media monitoring, data analysis etc. Recent research projects include; the Nigerian Banking Fact Book, the HOB Web Assessment Report, Stakes 55 report and Africa's Endangered Kings of Capitalism Report.

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