Egypt is in the midst of a tourism boom with developers busy planning major resorts along the stunning Mediterranean and Red Sea coastlines.
The North coast is now firmly on the tourism radar following the opening of Al Alamein International Airport.
The first of five hotels at the Almaza Bay Resort to be developed by the Travco Group, an Egyptian travel leisure group, and Germanys TUI AG
was recently inaugurated. The three-million-square-metre project will ultimately contain 2,300 guest rooms and 1,000 residential and tourist villas on
completion.
A tennis academy, shopping mall, golf course, spa, horseback riding tracks and movie theatre are also on the drawing board.
Ahmad El Khadem, chairman of the Egypt Tourist Authority,
said, It is extremely pleasing to see the northern region now realising its potential.
Investment and consumer interest will continue to increase as the developments are completed and the profile of the area grows in stature.
UAE property developing giant Emaar also has one eye firmly fixed on northern Egypts tourism potential.
Group subsidiary Emaar Misr for Development S.A.E and Artoc Group for Investment and Development have signed an MoU with Egypts Bibilotheca Alexandria for a major
waterfront redevelopment project. The redevelopment will provide a spectrum of facilities on Kouta Land on the west of the library and provide
another dimension to the already-popular historic old east harbour area.
The project is envisaged to be part of a broader vision that will contain four and five-star hotels and include conference, exhibition and retail
facilities, office spaces, residential buildings, an aquarium, museums and cultural buildings.
Alexandrias tourism profile will also be bolstered by the planned development of the San Stefano complex, which is earmarked to have a Four
Seasons hotel.
Further west, Porto Marina, the first international class marina on Egypts Mediterranean coast, will be able to accommodate jet skis, 100-metre
yachts and boast a 1,000-berth marina on completion.
The marina will provide not only all the expected facilities for yachts, but will also offer a first class yacht club and a wide range of shore facilities all
within walking distance. These include a shopping mall, 10 restaurants, a cinema complex, five- star hotel, golf course, horse riding, swimming pools and desert excursions.
The biggest stand-alone project, being built at Port Ghalib along 18 kilometres of Rea Sea shoreline, is the brainchild of developer and
investor, the Al-Kharafi Group of Kuwait. The integrated community will contain a bustling town centre, busy promenades with shops, boutiques, restaurants, bistros, cafes, as well as
galleries and entertainment for all ages.
Another upcoming Red Sea investment will see Jordan-based Al Shahin Group for Investments build a $300 million resort and marina at Sahl
Hashish.
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