El Gouna, the fully integrated and sustainable town developed by Orascom Development on the Red Sea coast, has announced the launch of "Tuban," its largest multi-purpose district to date. Located in the heart of El Gouna, Tuban spans over one million square meters and is within walking distance of El Gouna Hospital and G Valley, the town's business hub for small and medium-sized enterprises (SMEs) and entrepreneurs. Tuban Waterfalls, the first residential phase, will feature townhouses and apartments designed by renowned architect Hector Barroso. The master plan, crafted by globally acclaimed engineering firm EDSA, promises a seamless blend of innovation and elegance. Many units will offer panoramic water views, overlooking an open-to-sea lagoon. The neighbourhood will include tranquil waterfalls, a vibrant promenade, and other features designed to enhance quality of life. Tuban will feature a variety of residential units, including standalone villas, townhouses, and apartments, each designed with a levelled structure to maximize panoramic views. The development will boast top-tier amenities, such as marinas, a hotel, a vibrant commercial district, expansive green spaces, parks, and a waterfront promenade connecting residents to nature. For the first time in El Gouna, a dedicated residential complex for senior living will be an integral part of the community.
"Tuban is a ground-breaking development in El Gouna, seamlessly integrating residential, commercial, hospitality and for the first time luxury senior living offerings into one central location," said Mohamed Amer, CEO of El Gouna. "This project marks a significant milestone in the town's evolution, reinforcing its status as a sought-after, fully integrated destination. Strategically located, Tuban offers a truly unique living experience that caters to the diverse needs of our homeowners, providing a comprehensive range of services that enhance convenience and enjoyment. We are on track to deliver the first phase of this project by the first quarter of 2027." Amer emphasized, "Tuban is a unique blend of secure investment and luxurious living in a sustainable environment. It offers promising investment opportunities, making it an ideal long-term choice for investors. Additionally, the community features innovative architectural design that rivals global standards, ensuring residents experience the highest levels of comfort and luxury living." El Gouna continues to solidify its position as one of Egypt's premier destinations. Real estate sales increased by 172.1% to EGP 7.8 billion (DHS 592 million) in the first half of 2024. The company has also raised the average price per square meter in El Gouna to EGP 207,079 (DHS 15,731), reflecting a 67.3% increase in the first half of 2024 compared to the same period last year. El Gouna is on track to complete the construction of 384 units this year, with 96 already delivered to clients within the agreed timeframe.
