Emaar opens first Address hotel outside of UAE
Address Marassi Golf Resort sits on the North Coast of Egypt
Dubai-based Emaar Properties has opened its first Address Hotels + Resorts brand hotel outside of the UAE – the US$59.4 million Address Marassi Golf Resort in Egypt.
Located in Sidi Abdelrahman bay on the North Coast, the Tuscan-style resort is the second of nine hotels that Emaar Hospitality Group will open in the area. Emaar Misr, the group’s Egyptian real estate arm, first opened the Al Alamein Hotel in 2018 in the bay.
Emaar revealed the opening of the resort falls in line with the Egyptian government’s directions to develop the North Coast, which in the past years has enjoyed an increase in investments and urban developments.
The resort features 48 rooms and suites, an 18-hole golf course and 82 serviced apartments.
The resort also has five restaurants, two outdoor swimming pools, one indoor pool, and The Spa at Address, in addition to a private 250 sqm ballroom. Emaar’s Mohamed Alabbar added that the property will help to diversify tourism in the country. Yacht tourism for example will play a key role as the hotel houses the largest yacht marina south of the Med with a 236-yacht capacity.
“Despite challenges that are being faced across the globe at the moment, at Emaar we continue to keep our focus on the future", said Alabbar.
Alabbar noted that Emaar Properties’ investments in Egypt amount to EGP200bn ($12.5bn), including a EGP55bn ($3.4bn) investment in the entire Marassi area and an EGP 11.5bn ($719m) investment in Emaar Misr’s newly-launched project, Cairo Gate. While the company’s investments in its Sheikh Zayed land may amount up to EGP37.8bn ($2.4bn) in the coming period.
Following the opening of the first Address hotel outside the UAE, the brand has plans to extend into Saudi Arabia, Turkey and Bahrain.