Misr Egypt is mulling over having a partnership with the private sector or a bank to develop “Magawish” town in Hurghada, and taking advantage of the empty areas in the town via building residential units and mall.
General Fouad Sanad, Misr Travel Chairman, has referred that the company is eyeing the development of Magawish town and making use of the empty areas in it by building residential units, mall, and water games. So it needs a strong partnership from one of the private sector’s companies or any bank.
Sanad mentioned that the company is preparing the studies necessary for developing the town, and then offering the project to the company’s board.
He added that the partnership will be done pursuant to Act 203 and the approval of the company’s board.
