DM Development signed a memorandum of understanding (MoU) with the German integrated property management provider Apleona last week to establish a therapeutic and recreational destination in Egypt.
To be established with a total investment value of EGP 300m, the project will be located in the retail area of the Groove Sokhna Resort, marking a one-of-a-kind cooperation that aims to promote medical and recreational tourism in the Ain Sokhna region.
Through this partnership, DM Development seeks to foster Egypt’s economic growth and attract a new category of holidaymakers seeking recreational tourism by providing world-class specialised health and entertainment services at the Groove Resort (Ain Sokhna – Al-Galala).
The company will establish, for the first time, a therapeutic venue with all its facilities and a boutique hotel, which will be built in accordance with the highest standards in order to fulfil the needs of the resort’s visitors as well as those seeking this kind of medical tourism.
The choice of Apleona to cooperate on the new project is a continuation of their leadership in commercial and tourism facilities in a couple of countries, such as Weißes Schloss in Switzerland, Royal Women’s Hospital in Australia, Rathaus Galerie Essen in Germany, and Metropol SC in Turkey.
Managing Director of DM Development Ahmed Abd Al-Hamid said: “Ain Sokhna is a remarkable location given its close proximity to the New Administrative Capital Airport. The project targets attracting around 29,000 tourists annually, in addition to providing over 1,000 job opportunities in tourism and hospitality.”
Meanwhile, CEO of Apleona Egypt Mohamed Delawer said: “ We will provide the Groove’s residents daily requirements according to the latest innovative methods that ensure smooth and safe movement within the project and the commercial area in order to guarantee that all its facilities are easily accessed.”
For his part, Klaus Göthling — Deputy Head BU International Corporate Clients and Regional Director of the Middle East and Asia of Apleona Group — said: “We are happy to be part of this new project that we are implementing for the first time in the region, especially that we envision Ain Sokhna’s Galala as one of the attractive areas that will top the ranking of tourist locales.”