ALBAWABA - On the Mediterranean coast of Egypt, a beachfront property owned by billionaire Naguib Sawiris is up for sale for $12.5 million, equivalent to about 608 million Egyptian pounds.
The palace consisting of two properties, is located within an upscale project known as Almas Bay in the tourist city of Marsa Matrouh, famous for its lakes and white sandy beaches. The complex is approximately a 4.5-hour drive northwest of Cairo.
Sawiris purchased the first house for "about one million US dollars nearly 10 years ago, and after two years, he bought the neighboring house and expanded his property," said Marwan Ghabrial, CEO of Egypt Sotheby’s International Realty, which listed the home on the market in mid-August. Ghabrial did not disclose the amount Sawiris paid for the second property, according to Barron’s, which was reviewed by Al Arabiya Business.
Ghabrial explained that the single-story villas in the complex are about 10 feet apart from each other.
He noted, "The older house has an open kitchen imported from Italy, which can be closed off with a stylish glass door to separate it from the living room if needed." "While the extended house does not have a kitchen, it features a stunning marble bar next to the living room. Now the older house serves as Sawiris's guest house, while he has moved into the new house with a bedroom overlooking the priceless view of the garden, pool, and beach."
The property spans nearly 6,700 square feet and includes 9 bedrooms and 9 bathrooms. Both houses are adjacent to a large pool, approximately twice the length of an Olympic swimming pool, with views of the Mediterranean Sea.
The two unpits feature sliding glass doors, multiple indoor and outdoor living areas, a sauna, a home automation system, and direct access to the beach.
Ghabrial stated, "I have worked in luxury real estate for a long time now, and after working in Los Angeles, I have seen demand from buyers to purchase properties reviously owned by famous individuals, such as Elvis and Frank Sinatra, as well as Jeff Bezos."
"This property has the same appeal of being owned by the most famous businessman in Egypt. So many will be eager to buy his home as it has become iconic now. Professionally, the property boasts the best location in Almas Bay. It is just 120 meters from the warmest waters of the Mediterranean and is separated from it by soft white sands."
