This Egyptian Billionaire’s Coastal Retreat Can Be Yours for $12.5 Million
More than four hours west of Cairo, along Egypt’s northwest coast, Marsa Matrouh is a go-to destination stretched against the Mediterranean Sea known for its white-sand beaches, natural pools, beautiful craggy coastlines, and cultural spots. About 25 miles east of the popular resort town, the Almaza Bay development attracts an international array of high-profile residents and travelers due to its premier hotel and residential offerings, an impressive lineup of amenities and activities, and a variety of chic restaurants and boutiques. Now, you can own a piece of this sought-after coastal real estate.
Egpytian businessman billionaire Naguib Sawiris, a telecommunications entrepreneur and founder of Orascom Telecom Media and Technology, is just one of Almaza Bay‘s HNWI residents, though he is selling up for $12.5 million. The property is listed with Marwan Gebril, CEO of Egypt Sotheby’s International Realty.
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The paradisiacal property is like living within your own private resort, with two sea-view villas that combined offer nine bedrooms, nine full bathrooms, and two powder rooms, across a total of about 6,700 square feet. Sawiris, a member of one of Egypt’s wealthiest families, initially purchased just one of the villas but later added an adjacent home to create a single compound capable of comfortably accommdating extended family and friends. The one-story residences are built into the landscape and crafted with a contemporary architectural style.
The first villa that Sawiris acquired nearly 10 years ago, which is utilized as the primary residence, features a contemporary design with classy, understated colors and textures that are punctuated by large-format modern artworks on the walls. The open-plan great room hosts the kitchen, a chic living room, a dining area, and a spot with a desk for getting a quick bit of work done. Hidden sliding glass doors allow the kitchen to be closed off from the rest of the space, while a bank of floor-to-ceiling sliding glass doors seamlessly connect to the beachside swimming pool. Each of the three guest bedrooms in the primary residence has a built-in closet and private bathroom; the primary suite additionally features a private terrace facing the ocean.
The second villa, which acts as a guest house and entertainment space, has a more pared-back style with a neutral, monochromatic color palette. It has a sleek kitchen accented with Italian marble, a marble bar, and a wine cellar. The home’s three en suite bedrooms include a spacious main suite, which has a cozy sitting area, a large dressing room, and a marble-swathed bathroom.
The homes, each kitted with an automation system for controlling lights, climate, and audio, share the backyard. Along with a 300-foot mosaic-tiled pool—that’s nearly twice the length of an Olympic-sized pool!—there’s ample teak decking, several covered areas for escaping the sun, and an outdoor kitchen. Just beyond the low shrubs that provide color and privacy is a wide beach.
Sawiris is currently developing a 500-acre resort near Almaza Bay, and he also owns the five-star Silversands Resort on the Caribbean island of Grenada.
Click here for more photos of the sea-view compound in Egypt.
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