This Egyptian Billionaire’s Coastal Retreat Can Be Yours for $12.5 Million
By Emma Reynolds,
2024-09-05
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.
The living and dining area within the main house can be divided from the kitchen by sliding glass doors.
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.
Artwork animates a monochromatic lounge area of within the guest house.
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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