Kuwait’s M.A. Kharafi Group announced that the first phase of its US$2 billion Port Ghalib project in Egypt is now over 40 percent complete. A large conference centre, several retail and commercial outlets, an international marina, four already operating hotels including ‘The Palace’ by Intercontinental, ‘The Oasis’ and ‘The Sands’ by Crown Plaza and ‘Marina Lodge’, along with a substantial residential offering has been built and is ready for occupation. When complete, phase one of the development will incorporate a further 19 hotels, in addition to a yacht club, an 18-hole golf course and further entertainment facilities and services.
Port Ghalib has confirmed their participation at GIBTM (Gulf Incentive, Business Travel and Meetings Exhibition) to showcase their conference and exhibition facilities for organisations in the Middle East. Port Ghalib has hosted several large delegations from international organisations at its massive conference and exhibition centre that can accommodate over 1550 people at a time. The GIBTM event is being held in Abu Dhabi from 29th – 31st March 2010 at ADNEC.
GIBTM is the dedicated international event for the business travel and meetings industry (otherwise known as MICE) in the Gulf and Middle East region. As per published reports the approximate current percentage of MICE business is 11% in Egypt, 8% in Abu Dhabi, 8% in Dubai and 9% in Lebanon and this figure is expected to increase to approximately 18% within the next two years.
Commenting on their participation, Peter Riddoch, CEO, Port Ghalib, Egypt said: “We are delighted to participate at GIBTM Abu Dhabi. Port Ghalib has a spectrum of facilities to offer - ranging from our state-of-the-art conference facilities, hotels, and marina properties among others. In addition to the other forms of tourism, we believe that MICE tourism is equally important as it provides a platform for organisations such as ours to showcase new conference and exhibition destinations. We promote our MICE properties all over the world and in the Middle East through our International sales offices.”
Elaborating on Port Ghalib’s residential offerings Mr.Riddoch added that, “There are currently a wide range of studio, one, two and three bedroom apartments and villas available at Port Ghalib, with prices starting from US$80,000. The homes vary in size from the 517 sq.ft. studio apartments to the 3391 sq.ft. Arabian Villas and all come fully finished and furnished. In addition to investments in service, retail and entertainment businesses, Port Ghalib holds a number of other investment opportunities. These range from participatory opportunities with the main developers in core project components, to land purchases for secondary developers of resort hotels and residential communities.”
M.A. Kharafi Group, the master developer, is an international conglomerate based in Kuwait with over 50 years of experience in engineering; construction; tourism; leisure and hospitality; banking and investment; real estate and infrastructure development; aviation and food industries. Port Ghalib is the first integrated community that is being developed by the master developer, with a total area of 8 million m² in the first phase. The master developer, M.A. Kharafi Group, owns a total area of 30 million m², stretching along 18 kilometres of virgin shoreline.
Earlier this month Port Ghalib also participated at this year’s ‘Dubai International Boat Show’ to showcase its marina properties. Port Ghalib International Marina is also the first official international tourist port of entry into Egypt and has been operational since 2002 accommodating up to a staggering 1000 yachts of up to 50 meters in length. Participation at the Dubai boat show for the second consecutive year follows the impressive success the company has experienced at other international boat shows such as the ‘London International Boat Show’ and the ‘Düsseldorf Boat Show’.
