Saudis plan resorts off Egypt’s Red Sea coast
Two new tourism resorts are planned in Egypt’s Marsa Alam region, at an estimated base cost of 400 million Egyptian Pounds ($103 million), according to Ibrahim Malek, chairman of the Saudi companies involved in the project ― Malkiya Real Estate Development Company and Amanco Engineering Contracting and Investment Company
According to a report in Al-Hayat daily, the resorts will stand over a 1.8 million square meter area. The first resort plan consists of a 334-room hotel, 125 villas and several swimming pools, while the other will include a 315-room hotel and 125 villas.
The Marsa Alam resorts project is one of two new tourism programs implemented by the Egyptian Ministry of Tourism and managed by Meridian International. A second resorts project will be located in Ras Sedr, bringing the combined costs of both programs to an estimated $200 million. ― (MENA Report)
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