12:02 AM Monday, February 26, 2024
Cairo – Masrawy:
The Saudi newspaper Okaz said that the Egyptian government is preparing in the coming period to propose the development of the “Ras Jamila” area in the city of Sharm El-Sheikh, which overlooks the Red Sea, with huge Saudi financial investments, after the success of the “Ras Al-Hikma” deal on the Mediterranean with Emirati investments.
She added that this comes within the framework of the Egyptian government’s efforts to increase its hard currency resources, and its plan to promote integrated urban development by 2052 to confront population growth, as well as creating distinguished economic activities and providing job opportunities for large numbers of Egyptian youth during the coming decades.
The newspaper quoted an Egyptian source as saying that the development of “Ras Jamila”, which has an area of 860 thousand acres, with Saudi investments whose value has not yet been clarified, comes with the aim of placing it on the global tourism map, to be a destination for visitors from all over the world, due to its important geographical and strategic location, especially after… It was placed among the “major Egyptian projects” for the development of the region.
The source added that there is an upcoming government meeting to announce the deal, as happened before in the “Ras El Hekma” region, and it may be during the upcoming weekly government meeting headed by Dr. Mostafa Madbouly at the end of this week, expecting that among the items of the meeting will be talk about the “Ras Gamila” region. “With Saudi investments, within the framework of strengthening the strategic partnership between the Kingdom and Egypt, and investing in major national projects.
He stated that investment in the “Ras Jamila” land was not a matter of today, but rather was offered in 2021, and due to the “Corona” and other circumstances, investment in it was postponed until another time.
The Prime Minister’s meeting with a number of heads of investment companies, in the presence of the Minister of Housing, Dr. Assem El-Gazzar, came last Thursday, with the aim of increasing investments between the two countries at all levels, and paving the way for preparations for increasing investments in the Ras Jamila area, according to what the newspaper reported from the source.
A number of Egyptian government agencies, especially the Ministries of Housing, Planning, Business Sector, Local Development, and Tourism, are working on the quality of urban development in that area after announcing investment in it in an official manner, as there is agreement to establish a number of major five-star hotels on an area of 50%, over an area of 50%. Residential and commercial projects should be built in the rest of the area, provided that their design takes into account the unique environment of the area and the natural treasures it contains, as it is one of the most important areas on the Red Sea coast, especially in light of what the Egyptian government plans to attract about 30 million tourists by 2028.
The development of the area includes the establishment of a hotel project on an area of 403,615 square meters and the establishment of a 4-star hotel with a capacity of 844 rooms, in addition to 1,288 hotel apartments.
2024-02-25 22:02:00
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