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For 600 Million Egyptian Pounds.. Sawiris Is Selling His Mansion With A Hefty Price Tag
Nothing to see here, just a $12.5 million property!
On the Mediterranean coast of Egypt, billionaire Naguib Sawiris is putting his stunning beachfront property up for sale for $12.5 million, which is about 608 million Egyptian pounds.
The estate, made up of two homes, is located in the upscale Almaz Bay development in Marsa Matrouh, famous for its lagoons and white sandy beaches. It’s about a 4.5-hour drive northwest of Cairo.
Sawiris bought the first house around 10 years ago for about $1 million and then, two years later, purchased the neighboring house to expand his property. According to Marwan Gabrial, CEO of Egypt Sotheby’s International Realty, which listed the home in mid-August, the exact price of the second house remains undisclosed.
2 joint villas turned into a mansion
The villas are about 10 feet apart and feature sliding glass doors, multiple indoor and outdoor living areas, a sauna, a home automation system, and direct beach access. The older house boasts an Italian-imported open kitchen and has now become Sawiris’s guesthouse, while he has moved to the newer home, which has a bedroom with a fantastic view of the garden, pool, and beach.
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Gabrial noted that the property’s charm is enhanced by its connection to one of Egypt’s most famous businessmen, making it a highly desirable piece of real estate. Sawiris, 70, hails from Egypt’s wealthiest family and made his fortune in telecommunications, with a net worth estimated at $3.8 billion. He is also working on a 500-acre resort near Almaz Bay, following his Silver Sands Grenada resort in the Caribbean.
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