The Abu Dhabi Tourism Investment Company announced that it has approved 95 million dollars to be injected into the tourism sector in Egypt.
Mohamed Seif Al-Suwaidi, Chairman of the Board of Directors of the company, confirmed that the new investment allocation is directed towards building a large hotel project in the Giza Pyramids area.
He added that the company – which is 85% owned by the Abu Dhabi Fund for Development – contributes through the new hotel to the development of this international archaeological area, in line with the plans of the Egyptian government that is preparing to open the Grand Egyptian Museum at the end of this year, to constitute a strong archaeological addition that would change the civilized face of that city. strategic area.
Yehia Kotb, CEO of the company, said that the company is also developing and modernizing all its hotel projects in Sharm El-Sheikh and Hurghada at an estimated cost of $80 million, with the aim of upgrading the hotel hospitality sector and supporting Egyptian tourism, which is one of the most important tributaries of the Egyptian economy and contributes 11% to the national income. for the country.
He revealed the expansion plans of the company, which is currently studying many investment opportunities available in Egypt, with the aim of pumping more investments in an effort to enhance its presence in the Egyptian tourism industry.
He explained that this would be in order to contribute to doubling the number of hotel rooms in Egypt from 250,000 to half a million rooms, which is the number that the Egyptian government targets within the framework of its strategic plan to achieve a jump in the number of tourists coming to Egypt by 2030 to reach 30 million tourists annually.
CNANews service
2023-06-28 09:00:28
#Emirati #company #decides #build #large #hotel #Egypt #Giza #pyramids #area
