Arab Finance: Housing and Development Properties (HDP), the real estate arm of Housing and Development Bank, has signed a partnership agreement with TULUA Developments and Radisson Blu to develop and operate a hotel within Blu Stays, the final phase of The Island project in Marina 5 on Egypt's North Coast, as per an emailed press release.

The agreement will see Radisson Blu manage a 175-room hotel offering standard rooms, family rooms, suites, and a royal suite. The property will form part of a broader mixed-use development that combines hospitality and residential components.

Blu Stays is the final phase of The Island, a coastal development launched last year within the "Ministers’ Peninsula" in Marina 5. The project is situated on a site extending approximately 2,000 meters and is surrounded by water, providing views of both the Mediterranean Sea and nearby lagoons.

The development is being positioned as a hospitality and residential destination, with the hotel operator joining the project as construction progresses. HDP said concrete works across The Island have exceeded 95%, while full delivery of the wider development is expected in 2028.

Spanning approximately 37,000 square meters of built-up area, Blu Stays includes a marina level, a ground floor, and four upper floors. The development has an average footprint of around 4,500 square meters, with most units overlooking the sea.

Blu Stays is scheduled for delivery within three to five years and represents the final stage of The Island project, which forms part of HDP’s broader development activities on Egypt’s Mediterranean coast.