Company owns a touristic beachfront project (total land size: 240,000 sq mt) on the Red Sea coast of Egypt and we are interested in selling the below:
Phase 1: Resort on 60,000 sq mt area.
– 4-star deluxe resort with 204 rooms that is operating for the last 10 years with tourist from European countries.
– The resort is temporarily vacant due to COVID-19. Prior to the pandemic, the resort used to operate at 80% occupancy rate.
Phase 2: Vacant plot of 180,000 sq mt (not commissioned)
– Have a vacant plot of 180,000 sq mt attached to the resort. The plot is licensed to construct summer houses, hotels, serviced apartments.
– Permitted / allowed built up area (BUA) is only 20% of the total plot area and the permitted building height is G+2.
– We have prepared a project report which can be shared upon request.
Company is registered in Egypt and full sale will include the resort, vacant plot and the legal entity of the company. Director is currently based in UK.
– 4-star resort with 204 rooms.
– Vacant plot of 180,000 sq mt.
Features:
- Established 10-20 year(s)
- Employees 50 - 100
- Legal Entity Private Limited Company
- EBITDA Margin 10 %
- Industries Resorts
- Locations Marsa Alam
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