El Laithy & Associates successfully represented JUMEIRAH EGYPT for Real Estate investments in an agreement with Crystal Lagoons Business Group, Netherlands, which invented and owns the Crystal Lagoons System (as specified herein), is a forerunner and global leader in the technology development for the structure, construction, progression, operations, and maintenance of water bodies of any size and clear water transparency.
JUMEIRAH EGYPT was granted permission to secure and use the licenced Crystal Lagoons System under the terms of the agreement.
Overall, the system will be implemented in Ras El Hekma, North Coast, as part of the NAIA BAY Project.
A non-disclosure agreement (NDA), Intellectual Property Rights (IPR), and Technology License and Services Agreements (TLSA) were all part of the procedure.
Finally, the total investment for the project was estimated to be around EGP 6 billion.