Crystal Lagoons is developing 15 new Public Access Lagoons™ and real estate projects in MENA20 December, 2021 / News
Crystal Lagoons is consolidating its rapid expansion in the Middle East and North Africa (MENA) through a partnership with major regional investors and foreign equity funds that are interested in this unique and highly profitable amenity. Currently, the multinational innovation company has ongoing initiatives at different stages of development in countries like Egypt, Saudi Arabia, United Arab Emirates, Morocco, Jordan, Bahrain, Qatar, Oman and Kuwait.
But this US-based firm’s growth in the MENA market do not stop there as it has now agreed to develop 15 new projects, which will be developed under the successful Public Access Lagoons™ (also known as PAL™ complexes) and real estate models.
Egypt is a benchmark for the company, having become in the most important market in the MENA region for Crystal Lagoons, accounting for almost half of its project portfolio, with 16 developments at different stages of development. Its flagship project is Citystars Sharm El Sheikh, in the middle of the Sinai desert, with a 12.5-hectare crystalline lagoon. Now, the multinational is moving forward with five new complexes for next year, which will be located at the Red Sea (Abu Soma) and in Cairo and be built in association with the same developers of the Sharm El Sheikh (Sharbatly) and Fouka Bay and Mount Galala (Tatweer Misr) projects, on Egypt’s Northern Coast.
Interest in Crystal Lagoons® technology is also increasing in Dubai. One of the most recognizable projects is Meydan, a complex with the most expensive square meter in the United Arab Emirates. Its centerpiece is a magnificent 40-hectare lagoon that is soon to be extended to 60 hectares, which will ensure it breaks the record as the world’s largest crystalline lagoon for the third time. The company is negotiating a master agreement –exclusive license agreements for specific geographical areas and a significant number of PAL™ projects- in Dubai for five Public Access Lagoons™. These complexes will be in partnership with a prestigious German-African real estate fund.
Meanwhile, the luxury Tilal Al Ghaf residential development will expand its 7-hectare man-made lagoon to 13 hectares after seeing extraordinary sales figures. This will position Tilal Al Ghaf among the top five best-selling off-plan projects in Dubai. The resort is being jointly developed with Majid Al Futtaim, a major firm with a presence in 13 MENA countries.
Lastly, the multinational is negotiating three new contracts in Saudi Arabia. Two master agreements for PAL™ lagoons and a real estate project in Jeddah.
The revolution of Public Access Lagoons™ developments.
PAL™ projects are attracting great interest worldwide. This is clearly reflected in the success of the master agreement model through which the company has already more than 800 projects at various stages of development across strategic markets. These immense bodies of water are suitable for swimming and create a beach-like atmosphere just meters from your doorstep. The crystal-clear lagoons and white sandy beaches are also open to the general public on payment of an entrance fee and so provide a tropical experience in the middle of a city. These paradisiacal lagoon surroundings can be used for trade shows, product launches, cultural activities in multiple settings, weddings, hotels, retail, restaurants, terraces, domes and amphitheaters, making them the meeting point of the 21st century.