With over 41 projects in different stages of development and negotiation, Africa has become one of the most prominent markets for Crystal Lagoons®. Nigeria, South Africa, Morocco, Angola and Egypt are just some of the countries where the multinational water innovation company has real estate and Public Access Lagoons™ projects, also known as PAL™.
Of the aforementioned, Egypt has become a decisive country in the region and concentrates half of the firm’s projects portfolio, with more than 20 real estate developments in different stages of development and negotiation. In fact, the world’s largest crystalline lagoon (30 acres) is located within the Citystars Sharm El Sheikh complex, in the heart of the Sinai desert.
Cairo and El Alamein will be two cities that will also have offer idyllic beach life in the coming months, once the Bo Island, Swan Lake and Porto Golf residential projects are inaugurated. In addition to these, there are also another 16 developments in operation, development and construction or negotiation spotted around the country.
In addition to the consolidation of real estate projects in Egypt, Crystal Lagoons is also moving forward with negotiations for a master agreement to develop Public Access Lagoons, projects that promote a new standard of public spaces, transforming the urban landscape. PAL projects are also scheduled in South Africa, Egypt, Morocco, Nigeria and Angola, the most important being in South Africa which includes eight complexes in different cities in that country.
South Africa is another relevant market for Crystal Lagoons in Africa, where the partnership with leading local property developer Balwin Properties has been tremendously successful with a total of six real estate projects. The latest residential project is Munyaka, an ultra-luxury complex praised by the President of the Republic, Cyril Ramaphosa, who noted that Munyaka “will give life to the South Africa that we long for, promoting its economy through infrastructure. This is the way to build great communities.” The development also captivated buyers, as over 550 apartments were sold in just four days.
However, Crystal Lagoons growth in Africa is just beginning, as the continent’s middle class has a potential for great growth, is made up of a young population, increasing per capita income and increasing urbanization.
Source: Corporate news