There are “hopeful” plans to expand investments in Ibn Sina for Hotels & Resorts S.A.E. to EGP 1bn from the current investments of EGP 500m, the general sales manager of the company Sherif Khairy said.
A 150-acre compound named Cecilia Lagoons will be located on the North Coast, and there are plans to expand and buy more plots of land for residential and tourist purposes in the future.
The funding of this project came from personal investments, Khairy added. The real estate sector in Egypt is “flourishing” both in residential and recreational housing, he said.
According to Cecilia Lagoons website, this compound will feature different types of residential styles to satisfy each client’s needs, which range from chalets and villas to studio apartments. There are two-storey 250sqm villas with a roof, two-storey 135sqm and 120sqm chalets with a roof, four-storey 88sqm chalets, and 55sqm studio apartments, according to their website
Moreover, there is a marina, an aqua park, a 5-star hotel, a shopping mall, and a walking area for residents of Cecilia.