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LUXURY REFUGE ON EGYPT’S RED SEA SHORE

LUXURY REFUGE ON EGYPT’S RED SEA SHORE

February 2016

Already well-known as an exclusive holiday destination, Somabay is expanding its real estate footprint by introducing unique schemes to the Egyptian market.

Being one of Egypt’s most popular tourist regions, the Red Sea area is not short of holiday resorts that cater to various tastes and budgets. Whilst just 20 years ago it was mainly local fishermen who inhabited the Red Sea coastline, development in the region has fast forwarded over the past decade, especially in and around Sharm El-Sheikh, which has long lost is charm as an idyllic fishing village.

Amidst everything there is on offer today – from all-inclusive family resorts to specialised diving retreats, one development stands out from the crowd: Somabay. Being one of the first ever tourist developments on the Red Sea, planning for Somabay has begun as early as 1991.  Located 40 kilometres south of Hurghada airport, Somabay sits on a 10 million square metre peninsula with a 5.5 kilometre long white sandy beach. The development comprises five luxury resort hotels – including the Kempinski, Sheraton and Westin Somabay – a world-famous spa, championship golf course, marina, as well as coveted diving and kitesurfing spots. In addition, Somabay has a range of real estate offerings ranging from seaside apartments to villas and townhouses.

Cityscape magazine sat down for a chat with Ibrahim El Missiri, CEO of Abu Soma Development Company, when the company was visiting Dubai in December to promote the destination to the GCC market. We asked him what differentiates Somabay from other holiday resorts in the Red Sea region. “Its location of course,” El Missiri is quick to say, explaining that no other development in Egypt can claim to sit on its own peninsula with 11 kilometres of varied coastline.

In addition to its unique location, at Somabay everything is state-of-the-art, with “no expenses spared.” Be it ultra-high-speed internet on the beach or a Gary Player-designed golf course, Somabay’s mission is to offer only the best.

Lastly, El Missiri attributes one of the successes of Somabay to the fact that it built the destination first and later focused on creating communities. “With Somabay, people don’t buy into a promise. The promise is already there. What you see is what you get.”

As Somabay has completed its overarching masterplan last year, which was developed by international architecture and design practice Benoy, the company now focuses on pushing forward with its real estate offerings.

SOMABAY REAL ESTATE

‘Become a citizen of Somabay’ – this is the slogan with which Abu Soma Development Company aims to reach buyers into Somabay’s real estate offering this year.

“Well known as an exclusive holiday destination on the Red Sea coast, Somabay has recently been making a big push on its real estate front and released a few unique products to the Egyptian market,” explains El Missiri. “Originally we had the traditional marina and golf apartments and a few villas, but we then wanted to focus on creating communities,” he adds.

The first new product Somabay introduced is called the Lodges – these consist of compact villas set atop the cliffs of the peninsula (which rises up to 26 metres from sea level). “In Egypt, you won’t find anything of that type to compare to, making it very unique and hence this has been a very successful product. This year we were able to sell two phases of the Lodges,” El Missiri says.

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