Orascom Development Brings El Gouna’s Red Sea Lifestyle to the UAE with Fanadir Shores and North Bay Launches

Orascom Development, a global leader in creating vibrant, integrated destinations across Europe, the Middle East, and North Africa, shone a spotlight on El Gouna, its stunning coastal town on Egypt’s Red Sea, at a recent visit to the UAE. During the trip, El Gouna introduced its latest waterfront real estate projects, Fanadir Shores and North Bay, featuring private luxury living, at an exclusive evening reception ahead of the 4th Annual Private Wealth Middle East Forum, where the town was a Platinum Sponsor. With an exclusive offering of just 57 units, Fanadir Shores provides privacy with direct access to the shores of the Red Sea with a private open lagoon for boats, while North Bay features more spacious living offerings, bringing effortless marina living to life. Delivery of units is set in two years’ time.

Contributing to El Gouna’s reputation as a vibrant, integrated town offering a cosmopolitan lifestyle, Fanadir Shores, its latest project, is designed to elevate the town’s premium residential offerings. The new development delivers on Orascom Development’s promise of ’life as it should be’ and caters to the evolving needs of its growing community. Located on El Gouna’s most premium shoreline adjacent to the 80-berth Fanadir Marina, next to the prestigious La Maison Bleu Boutique Hotel, Fanadir Shores offers a fresh take on seafront living. The development features seven buildings with spacious 2- to 4- bedroom apartments, averaging 220 sqm, featuring ocean views and designed for sustainable and luxury living. 

For those looking for more spacious living, North Bay is the town’s latest neighborhood with their newly launched phase ‘Highland’, primely located with open-to-sea lagoons and private boat docks for. The development offers a variety of single-family standalone villas, duplexes and penthouses with iconic design by the world-renowned architect Victor Legorreta, and prices starting at $1.8M for standalone units with a BUA of 245 sqm, going up to $3.2M for units with a BUA of 390 sqm. This project is exclusively launching ‘The Pavilion’, a thoughtfully designed public space in North Bay encouraging events and community gatherings, designed for community-centric living.

Over the past 35-plus years, Orascom Development has grown into a leading multinational developer of prime destinations across Europe, the Middle East, and North Africa. At the reception, the Group highlighted its unique approach to placemaking and its ambition to create destinations where people can live, work, stay and play with passion and purpose, offering curated experiences spanning residential properties, hospitality, commercial ventures, education and healthcare. At the events, investors, partners, and thought leaders in the region were treated to an immersive experience that brought El Gouna to Dubai through a visually compelling Virtual Reality (VR) experience.

Omar El Hamamsy, Orascom Development Group CEO, said: “Orascom Development’s longstanding track record and multinational portfolio reinforce our position as a trusted developer in the region, continuously meeting evolving customer needs and global trends. As regional investors increasingly seek diversification opportunities with both lifestyle attributes and strong returns, El Gouna by Orascom Development offers a compelling blueprint for the future of destination investment – with its multicultural community of residents from more than 50 nationalities, a USD-denominated investment scheme that provides currency stability, and a comprehensive ecosystem of amenities including four world-class marinas, international education and healthcare facilities. We have pioneered a model where sustainable design principles and community programming help to drive consistent value appreciation, creating a unique proposition where financial returns and personal fulfillment go hand in hand.”

Mohamed Amer, CEO of El Gouna by Orascom Development, commented: “There’s been a surge of interest in integrated coastal living, and we’re pleased to see the UAE community embracing the lifestyle concept we’ve helped define over decades. El Gouna by Orascom Development is a proven, award-winning town with more than 35 years of legacy and success, home to a thriving international community and a model for destination development. Fanadir Shores and North Bay mark the next chapter in that legacy, bringing our distinct blend of lifestyle, sustainability, and unique architecture to live by the beautiful Red Sea.”

Combining elevated design, serviced infrastructure, and a range of resort-style amenities, El Gouna delivered 371 units in 2024 and plans to deliver 410 units in 2025. This contributed to consistently strong financial performance. The Group achieved real estate sales of USD 905 million (AED 3.32 billion), increasing by 16.1% for the year 2024, including USD 274 million from El Gouna (AED 1.01 billion), an increase of 11.6% from the previous year. This growth reflects Orascom Development’s ongoing journey to build thriving, integrated, and sustainable communities, where people are empowered, and the environment is respected for future generations.