Mövenpick Hotels and Resorts has announced a new coastal property on Egypt’s North Coast, an area it says is a popular leisure destination and growing commercial centre.

The Swiss hospitality firm has signed an agreement with Cairo-based real estate company Arabia Investment & Tourist Development SAE, part of the Arabia Group, to manage the 300-key Mövenpick Hotel & Residences North Coast, Egypt, part of an upscale mixed-use residential development.

The property is located 70 kilometres west of Alexandria and 280 kilometres north west of Cairo.