SNG: Egypt: Makadi Heights signs agreement to develop 1.021mln sqm seafront plot on Red Sea

About this update from Orascom Development Egypt (s.a.e)

Staff WriterArab Finance: Orascom Development Egypt said its subsidiary, Makadi Heights for Tourism Development Company, signed an agreement with the government to develop a land plot measuring 1.021 million square meters directly connected to the existing Makadi Heights destination on the Red Sea coast, as per a disclosure.The agreement, which takes effect in January 2026, will add the new land to the project’s current master plan, bringing the total area of Makadi Heights to about 4.75 million square meters.The planned development will include residential units, serviced apartments, commercial areas, and a hotel component to meet demand for integrated coastal destinations.Under the agreement, the government will receive 50% of the project’s components in kind.© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

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