Prime Developments and Osoul for Tourism Development launch 'CLAN' project in Hurghada
Prime Developments is one of the leading real estate companies in the Egyptian market, particularly in the Red Sea region, where it began operations in 2008 with a distinctive and unique vision in the real estate development sector. The company has focused especially on residential-tourism and hotel-style residential projects. Over the years, Prime Developments has established itself as one of the largest real estate developers on Egypt's eastern coast, catering to a wide range of clients from various nationalities seeking to own and live in the Red Sea area. The company is committed to delivering unique and competitive real estate products that surpass those offered by major players in the region, while maintaining the highest standards of quality and innovation.
The launch comes at a strategic time, reflecting the company's commitment to excellence and innovation in developing real estate projects that meet evolving market needs—especially in the eastern coast area, which is witnessing a major urban and economic boom. Prime Developments believes in building strong, long-term partnerships with all stakeholders to ensure the best residential and investment outcomes.
The launch event was attended by key members of Prime Developments' leadership team, including CEO Eman Talaat and Board Member Rami Abu Ashara, who participated in the celebration and honored partners. Both emphasized the significance of the project and its role in strengthening the company's position in the Egyptian real estate market.
The project reflects the company's vision of providing an integrated residential environment that combines comfort, luxury, and a wide range of services to meet the needs of all family members. Engineering consultancy for the project is provided by Hafez Consultation, known for its extensive expertise in modern architectural design.
Covering an area of 10,000 square meters, the project will feature a full range of premium facilities and amenities, including:
Outdoor and heated swimming pools
Luxury Jacuzzi
Vibrant retail areas
Poolside bar
Fine dining restaurant
Dedicated children's area
Fully equipped modern gym
The project is scheduled for full delivery in 2028, reflecting the company's commitment to precise execution plans that ensure quality and professionalism at every stage of construction and development.
Nathan Yaacoub, Chairman of Prime Developments, stated that the event is not only the launch of a new project, but also a celebration of teamwork and the collaborative spirit that lies at the heart of the company's success. He added:
'Our vision is centered on delivering integrated projects that combine modern design, high quality, and strategic location—reflecting the remarkable progress of Egypt's real estate market under the wise leadership of President Abdel Fattah El-Sisi.'
Yaacoub pointed out that the eastern coast has become a prime investment hub, affirming Prime Developments' commitment to investing in the area through premium products aligned with the state's approach to sustainable development and urban growth.
He further revealed that the coming period will witness the launch of more high-end projects focused on luxury and comprehensive living experiences, ensuring safe investment through the integration of all real estate elements—from marketing and design to execution—by specialized teams.
Yaacoub noted that the 'CLAN' project embodies this ambitious vision, blending modern architecture, well-planned spaces, and a strategic location in Hurghada to offer a unique urban experience that raises the bar for both investors and residents. He expects the project to be a game changer in the Red Sea real estate market, especially with the growing interest from both local and international investors.
The project is being developed in partnership with Osoul for Tourism Development. Ayman Sabry, Chairman of Osoul, confirmed that 'CLAN' will feature 400 units with sizes ranging from 44 sqm to 155 sqm. The development will also include a hotel operated under one of Egypt's most renowned hospitality brands, as well as diverse commercial and tourism facilities that will boost investment and tourism in the area.
Sabry highlighted that the project's investment cost is approximately EGP 1.25 billion, with expected sales exceeding EGP 3 billion, and that it is planned to be completed within two years.
Osoul for Tourism Development is a subsidiary of Osoul Holding for Investments .
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