Kimidar Group to Develop Residential Property in Hurghada, Egypt
- Feb 23, 2010
Dees Stribling, Contributing Editor
Hurghada, Egypt–Kimidar Group, a developer as well as a major tour operator in Egypt, has unveiled plans for Golden Park Resort & Spa, in Hurghada, Egypt, on the Red Sea. The property will consist of apartments, villas and penthouses in a resort setting, with 300 residences for sale in the first phase.
Hurghada is an Egyptian seaside resort that has seen rapid growth in the last few decades. Once a fishing village, the town now sports more than 200 hotels, an assortment of retail properties and various entertainment venues. It’s popular with both Egyptians as well as European vacationers, particularly as a warm-weather, water-sport destination.
Roughly 6.7 million travelers passed through the Hurghada International Airport in 2009. The airport is currently being expanded with the addition of a new terminal building, which will increase its capacity to about 7.5 million after completion next year. The Golden Park Resort & Spa will be about 15 minutes from the airport.
“Golden Park is an opportunity for property buyers, either as a holiday home or investment, because Egypt is seeing strong growth in tourism,” Mohamed Kamal Abu El Kheir, Kimidar Group’s CEO, tells MHN. “The expansion of the airport means that Hurghada, only five hours flight from the UK, will become even more popular. That too is good news for our investors.”
He adds, “Kimidar has a track record in Egypt and a large portfolio of resort hotels in Hurghada, which run at over 85 percent occupancy. Their success has driven us to create Golden Park.”
Golden Park features resort-like amenities, which include gardens, swimming pools, a spa and fitness center (including classes and treatments), and a shuttle service to the town center of Hurghada. Other amenities for residents include concierge, travel and housekeeping services.
Golden Park will also be a green development, aiming for the lowest carbon footprint in Egypt for a development of its kind. Among other sustainable features, the property will include solar power as a primary energy source, use of wind turbines, recycling and other management of waste, a timer system for street lighting, movement-activated lights, and construction using natural and locally produced materials. Once complete, the property will also offer residents the use of bicycles free of charge to limit automobile usage.