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El Gouna - The famous environmentally sustainable town on Egypt’s Red Sea, conceived and built by Orascom, is preparing to present the largest upscale residential and commercial development in her history, ‘Tuban’. This large-scale multi billion project will cover an area of one million and square meters and will offer a sumptuous waterfront lifestyle and the beautiful Red Sea and great possibilities for investment.
Situated in the core of El Goua, a short distance away from the town’s hospital and commercial area, the first phase popularly known as “Waterfalls” of Tuban will consist of swanky townhouses and apartments that are designed by the prolific architect Hector Barroso. A good number of the units will have awesome views of the lagoon and ocean. Prepared by the foremost design house EDSA, the master plan shall include tranquil waterfalls, an active boardwalk, and an architectural finesse where nature and structures harmoniously coexist.
From detached villas to trendy apartments with great views, Tuban will cater. Residents will be able to enjoy amenities and facilities such as marinas, a hotel, a retail center, large park areas with greenery, all connected by a charming promenade by the water. Lastly, Tuban will launch the first purpose-built luxury retirement village of El Gouna designed for active seniors.
“Tuban is a groundbreaking advancement blending residential, commercial, hospitality and senior living in one vibrant central community,” said CEO Mohamed Amer.
“It marks a new era positioning El Gouna as an unrivalled, fully-integrated destination offering the ultimate convenient and luxurious coastal lifestyle.”
Amer highlighted the safe investment opportunities offered by Tuban as well as the cutting-edge design of buildings that meets international standards of comfort and sustainability. El Gouna is also on the rise as real estate sales grew from 81 EGP in the first half of the year 2024 to 7.8 billion EGP which is a staggering 172% increase.
The first phase of Tuban’s Waterfalls residences is anticipated to be finished by the beginning of 2027 in line with the successive growth of El Gouna. As this new part costs an average of EGP 207,079 ($4,294.50) per square meter, it opens up very interesting investment opportunities for sophisticated consumers and investors.
