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Country-Plan Projects and Tenders |
| 9194 Subject |
520 مليون دولار قيمة الاستثمارات المعطلة للمشروع السياحي بالساحل الشمالي الغربي وبداية العمل من جديد Years old suspended $ 520 million tourist development project on the North West Coast seems revived & heading towards a happy end. |
| Date Published | Monday, August 29, 2005 |
| Source Name | Asharq Al Awsat |
| Location Name | Matrouh |
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Description Date Format: (mm/dd/yyyy) |
Years old suspended $ 520 million tourist development project on the North West Coast seems revived & heading towards a happy end. Project developer, Samla & Alam Al Roum Co., affiliated to the Saudi Dallah Al Baraka Group (of Sheikh Saleh Kamel) in joint venture with Egyptian investors, has recently launched reviving of the scheme to occupy 5 million M2 area. CEO of Samla & Alam Al Roum Co., Eng. Ahmed Al Sherif, said the scheme is designed to host hotels of up to 2,000 rooms capacity, a marina to host 350 yachts, golf play courts, recreational centers and a tennis play court on 89,000 M2 land. The scheme will be implemented over 4 stages for completion in ten years. Worth indicating that Dallah El Baraka controls more than 50 % of the venture with the remaining shares held by Egyptian investors including Ms. Samar Gaafar, Dr. Hassan Mohamed Hassan and the Islamic International Co. for Real Estate Investments. |
| Sectors Section |
Beneficiary Sectors - Construction Projects Hotels & Tourist Development Cultural Buildings & Clubs |
