saudi billionaire to invest 800m in egypt tourism
Last Updated : GMT 12:24:11
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

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 Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today The Rake announces editorial updates

GMT 12:19 2018 Tuesday ,16 January

The Rake announces editorial updates
Arab Today, arab today Europe brings on charm and blue skies

GMT 06:12 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Arab Today, arab today Puigdemont candidate for Catalan president

GMT 05:31 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Arab Today, arab today Amazon to open first cashierless shop

GMT 05:52 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 13:36 2017 Friday ,22 December

Iraqi troops killed six ISIS militants in Mousl

GMT 12:33 2017 Friday ,22 December

Yara denies presenting new talk show

GMT 01:00 2017 Wednesday ,20 December

Saudi and Russia expnad food integration

GMT 14:33 2017 Tuesday ,19 December

German business morale eases back from record high

GMT 12:32 2017 Tuesday ,19 December

UK weather: The latest Sky News forecast

GMT 04:53 2017 Tuesday ,19 December

Egypt’s government signs agreement with Switzerland

GMT 04:27 2017 Tuesday ,19 December

Tensions dominate the Iranian parliament amid fears

GMT 11:35 2017 Monday ,18 December

Putin appreciates U.S intelligence cooperation

GMT 08:05 2017 Monday ,18 December

Mona Zaki reveals details of her new show

GMT 17:32 2017 Sunday ,17 December

Polls open in Chilean presidential election

GMT 07:16 2017 Sunday ,17 December

Yasmine Underlines importance of Fatimid Cairo

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:41 2018 Saturday ,17 March

testing from boss1

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer
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