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5725 Subject |
2.35 مليار جنيه لمشروعات سياحية في ساحل حشيش علي البحر الاحمر Egyptian Co. for Tourist Resorts SAE announcing details on its multimillion project to develop 32 million M2 land at Sahl Hashish Bay on the Red Sea. |
| Date Published | Wednesday, March 31, 2004 |
| Source Name | Al Alam Al Yom |
| Location Name | Red Sea |
| Description | CEO of the Egyptian Co. for Tourist Resorts SAE, Dr. Houssein Abu Seeda, announced recently the inauguration of 3 new hotels at Sahl Hashish as of January 2005. He indicated that the company is since some time developing 32 million M2 lands at Sahl Hashish Bay on the Red Sea, 20 km away from Hurghada International Airport. The executive revealed that investments of the project first phase reach L.E. 2.35 billion covering 6 million M2 land & involving the construction of 14 hotels, 4 & 5 stars, comprising 6,104 rooms, 680 beach villas & chalets, also other tourist housing units. He indicated that this phase is projected to generate annually some 3 million tourist nights based on 60 % occupancy rate of hotels & 40 % occupancy rate of villas. Company board of directors includes several highly seen & most prominent Egyptian businessmen. It is Chaired by Dr. Ibrahim Kamel, grouping Dr. Hamza Al Kholy, Mr. Samih Sawires, Mr. Khaled Sheta, Dr. Ahmed Bahgat, Mr. Hassan Azab, Eng. Ahmed Sabbour, Mr. Ibrahim Al Dessouki, also representatives of NBE- National Bank of Egypt & of 3 state owned insurance companies. |
| Sectors Section |
Beneficiary Sectors - Construction Projects Hotels & Tourist Development |
