saudi billionaire to invest 800m in egypt tourism
Last Updated : GMT 08:16:42
Arab Today, arab today
Arab Today, arab today

at attracting foreign investment

Saudi billionaire to invest $800m in Egypt tourism

Arab Today, arab today

Arab Today, arab today Saudi billionaire to invest $800m in Egypt tourism

Saudi billionaire to invest $800m in Egypt tourism
Cairo - Arabs Today

Saudi Arabian billionaire Prince Alwaleed bin Talal is to invest more than $800 million in hotels in Egypt, the investment ministry in Cairo said on Monday.

The announcement came after parliament in May adopted a new law aimed at attracting foreign investment as the authorities seek to reinvigorate the North African country's struggling economy.

The ministry said in a statement that Bin Talal told Investment Minister Sahar Nasr in the Red Sea resort of Sharm el-Sheikh that he would invest in hotels in several locations.

Tourism in the Arab world's most populous nation has yet to bounce back from before the 2011 uprising that toppled longtime ruler Hosni Mubarak.

The fall in tourist arrivals worsened after the Islamic State group said it bombed a Russian airliner carrying holidaymakers from Sharm el-Sheikh in 2015 in a crash that killed all 224 people on board.

The Saudi investment would include expanding the Four Seasons resort in Sharm in the southern Sinai, transforming it into "the biggest resort in the world", the ministry said.

New hotels would also be built in the Mediterranean town of El-Alamein and in Madinaty east of Cairo.

The ministry said the amount of Saudi investment was "expected to surpass about $800 million", and the projects would be carried out with Egyptian real estate developer Talaat Moustafa Group.

Source: AFP

arabstoday
arabstoday

GMT 04:14 2017 Thursday ,14 December

Ryanair hit by further strike action

GMT 05:24 2017 Wednesday ,13 December

Nearly 900 migrants rescued off Libya arrive

GMT 04:51 2017 Tuesday ,12 December

UN seeks urgent resettlement of

GMT 14:34 2017 Monday ,11 December

Snow and ice ground hundreds of flights in Frankfurt

GMT 13:17 2017 Monday ,11 December

Snow and ice ground hundreds of flights in Frankfurt

GMT 10:12 2017 Sunday ,10 December

Snowstorm forces US airline Delta to cancels

GMT 19:20 2017 Saturday ,09 December

EU voices concerns over Lufthansa Air Berlin bid

GMT 06:16 2017 Friday ,08 December

from restaurant menus to plastic 'soup'
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi billionaire to invest 800m in egypt tourism saudi billionaire to invest 800m in egypt tourism

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi billionaire to invest 800m in egypt tourism saudi billionaire to invest 800m in egypt tourism

 



Arab Today, arab today
Arab Today, arab today Dubai’s first ever ‘Modest Fashion Week’ draws

GMT 11:26 2017 Tuesday ,12 December

Dubai’s first ever ‘Modest Fashion Week’ draws
Arab Today, arab today Snow grounds flights

GMT 04:04 2017 Thursday ,14 December

Snow grounds flights
Arab Today, arab today 3 Ways to Find the Best Interior Design Ideas

GMT 09:49 2017 Tuesday ,12 December

3 Ways to Find the Best Interior Design Ideas
Arab Today, arab today Muslim leaders urge recognition of East Jerusalem

GMT 02:29 2017 Thursday ,14 December

Muslim leaders urge recognition of East Jerusalem
Arab Today, arab today Twitter makes 'tweetstorms' easier

GMT 04:29 2017 Thursday ,14 December

Twitter makes 'tweetstorms' easier
Arab Today, arab today Watch brand James Derby launches

GMT 09:35 2017 Monday ,11 December

Watch brand James Derby launches
Arab Today, arab today Ryanair's Dublin pilots vote

GMT 05:28 2017 Wednesday ,13 December

Ryanair's Dublin pilots vote
Arab Today, arab today Why You Should Choose Oriental

GMT 10:36 2017 Wednesday ,29 November

Why You Should Choose Oriental
Arab Today, arab today UN does not confirm Iran link

GMT 03:30 2017 Wednesday ,13 December

UN does not confirm Iran link
Arab Today, arab today Polish TV channel fined

GMT 04:50 2017 Wednesday ,13 December

Polish TV channel fined

GMT 03:23 2017 Wednesday ,06 December

Cleric praises mosque school idea

GMT 08:32 2017 Thursday ,30 November

MP calls for withdrawing confidence

GMT 08:16 2017 Saturday ,02 December

MP warns of new drug spread in Egypt

GMT 12:20 2017 Tuesday ,05 December

Amara underlined role of construction

GMT 06:56 2017 Friday ,01 December

Minister stresses refusal to Benkiran

GMT 07:31 2017 Tuesday ,05 December

Actress Menna Shalaby reveals her coming works

GMT 04:06 2017 Tuesday ,05 December

Kuwait prepares for hosting GCC Summit

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 03:54 2017 Tuesday ,05 December

15 killed in Morocco food aid stampede

GMT 01:41 2017 Saturday ,12 August

Moroccan video sparks debate on sexual harassment

GMT 15:05 2017 Thursday ,05 October

Haddon PR handles Deskmate

GMT 04:30 2017 Sunday ,22 October

Miista appoints IPR London

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 10:05 2017 Tuesday ,05 December

Bahrain's top Shiite cleric hospitalised

GMT 13:56 2017 Friday ,01 December

Trump fuels Tillerson firing speculation

GMT 04:47 2017 Tuesday ,05 December

More than 400 killed as magnitude 7.3 earthquake

GMT 15:24 2017 Thursday ,05 October

A.F.VANDEVORST appoints SPRING London

GMT 14:23 2017 Friday ,01 December

Mauritanian activists arrested over massacre protest

GMT 03:27 2017 Wednesday ,06 December

Saudi Arabia aspires to the success of Yemen's uprising

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 16:08 2017 Tuesday ,24 October

Glamour fashion editor goes freelance

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday