Zazou: Saudi Investors Compete For Tourism Ventures In Egypt

A large number or Saudi investors expressed a desire to compete for 28 million cubic meters that allocated for the tourism investment in Sharm Al Sheikh and Ain Sukhna.
The Egyptian Minister of Tourism, Hesham Zazou, in his statements to the Saudi newspaper “Alwatan”, asserted that he has held several meetings with a number of investors from Egypt and Arab countries; among them Saudi and foreign investors. This is to discuss the flow of global and local investments in the tourism field; referring that the Arab investors have strong desire to seize the investing opportunities in Egypt and establishing ventures in the coming period.
Hesham Zazou affirmed that the ministry will present 28 million cubic meters for the tourism investment in the coming period, after having studies for supply and demand. These studies elaborated that the tourism sector in Egypt needs variety of tourism products and providing a large number of job opportunities in the sector.
He explained that these presenting these lands will be for two giant ventures, one in Ain Sukhna and the another in “Nabq” in Sharm Al Sheikh. Each venture includes global healthy resort on an area of million cubic meters. These lands will be presented by the sealed envelopes tenders.
Zazou mentioned that Egypt Tourism Authority (ETA) has set rules to be dealt with. The resorts should be near the existing housing and tourism communities, as well as the airports and ports. They should be facilitated with electricity, water and sanitation facilities.
The authority has set the main plan for Ain Sukhna, Nabq and Marsa Shagara in Marsa Alam. The plan includes global resorts and sports villages, artificial forests and resorts for curative tourism.