Al-Marsad newspaper: Egypt’s Ministry of Public Enterprise Sector announced the launch of the Ras Jamila land project in Sharm El-Sheikh, overlooking the islands of Tiran and Sanafir, for investment under projects that the ministry will offer to investors.
Egypt’s public enterprise sector minister, Mahmoud Esmat, revealed that the ministry aims to build a hotel project on 50 percent of the territory, the area of which exceeds 800,000 square meters, according to the Cairo 24 website.
Ing. Mahmoud Esmat, Minister of the Public Enterprise Sector, revealed that the estimated cost of the project is around EGP 7.3 billion, excluding land value.
It should be noted that the Ras Jamila tourism project is the last plot of land facing the sea of Sharm El-Sheikh and the islands of Tiran and Sanafir, adjacent to Sharm El-Sheikh airport, which is a project proposed in partnership with the private sector.
