HomeEgyptEgypt wants to build another resort on the Red Sea

Egypt wants to build another resort on the Red Sea

Following the attraction of investments from the UAE in developing a resort on the Mediterranean Sea, the Egyptian authorities are ready to give up a large beach area in Sharm el-Sheikh for development.

Let us recall that not long ago Egypt concluded the largest deal in the country’s history to attract foreign investment: investors from the UAE will direct $24 billion to the development of the Ras al-Hekma resort near Alexandria on the Mediterranean coast.

According to preliminary information, the Egyptian authorities have now agreed with investors from Saudi Arabia to construct the fashionable Ras Ghamila resort in the north of Sharm el-Sheikh. 5-6 luxury hotels, a water park, an amusement park, shopping centers, etc. will be built there.

Ras Gamila is famous for its great diving opportunities: the local reef is considered one of the best in Sharm el-Sheikh.

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