El Gouna, the acclaimed sustainable town developed by Orascom, is unveiling its largest premium residential and commercial district to date – “Tuban.”
The multibillion-pound, one million square metre district will offer luxurious waterfront living and prime investment opportunities along the Red Sea coast.
Situated centrally in El Gouna, just steps from the town’s hospital and business hub, Tuban’s initial “Waterfalls” residential phase will consist of upscale townhouses and apartments designed by renowned architect Hector Barroso. Many units will boast panoramic lagoon and sea views. The masterplan by leading firm EDSA incorporates tranquil waterfalls, a lively promenade, and seamless integration of nature with elegant architecture.
Tuban will feature a wide array of housing options from standalone villas to apartments, with a thoughtful leveled design maximising vistas. Amenities will include marinas, a hotel, retail areas, expansive parks and green spaces, all connected by a waterfront promenade. For the first time in El Gouna, it will offer a dedicated residential complex for luxury senior living.
“Tuban is a groundbreaking advancement blending residential, commercial, hospitality and senior living in one vibrant central community,” said CEO Mohamed Amer.
“It marks a new era positioning El Gouna as an unrivalled, fully-integrated destination offering the ultimate convenient and luxurious coastal lifestyle.”
He highlighted Tuban’s secure investment prospects and innovative architecture meeting global standards for residents’ utmost comfort and sustainability. El Gouna continues seeing massive growth with real estate sales soaring 172 per cent in the first half of 2024 to EGP 7.8 billion ($161.1 million).
The first phase of Tuban’s Waterfalls residences is scheduled for completion by early 2027 as part of El Gouna’s rapid expansion. With prices averaging EGP 207,079 ($4,294.50) per square metre, the new district presents enticing opportunities for affluent buyers and investors.
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