Marsa Alam and Hurghada Tourism Projects Under Study in Egypt

Egypt is studying requests to allocate lands for tourism projects in Marsa Alam and Hurghada. The General Authority for Tourism Development, affiliated with the Egyptian Ministry of Housing, is studying applications from Egypt tourism investment companies to acquire lands in the Red Sea attractions regions of Marsa Alam and Hurghada day tours, southeast of the country.

A government source told Al Arabiya Business that the Authority had presented investment opportunities in the two regions with total areas ranging between 3 and 4 million square meters during the first quarter of this year and expected to decide on studying the financial and technical offers submitted by the companies during the second half of 2024. When planning a visit to Egypt, tourists can explore various Egypt tour options, including Egypt tour packages, and Egypt day tours.

The study of the submitted offers is based on examining the financial and technical aspects of the projects that tourism investment companies wish to establish on the lands under offer, and a comparison is made between the various offers to choose the best one. Pricing processes per square meter are also subject to the area in which it is located, the degree of tourist saturation, and the availability of infrastructure such as roads, airports, and water networks. and facilities,” according to the government official.

Egypt is looking to double the capacity of its hotels and expand Sharm El Sheikh excursions, which recorded 222.7 thousand rooms at the end of the first quarter of this year, to 450 thousand rooms by 2028, as part of the goal of attracting 30 million tourists.

The official said that the process of withdrawing land from investors who are late in implementing projects according to the specified timetable has almost stopped in the current period and has been replaced by companies that are not late in implementation, purchasing additional grace periods ranging from two years for limited projects with an area ranging from 10 to 250 thousand square meters and 4 years. For those whose area exceeds 250 thousand square meters.

He added that a fine is imposed in dollars based on the current and remaining implementation percentage of the project and the land area, according to a mathematical equation determined by the General Authority for Tourism Development. Visitors have the option to take vacations to Aswan day tours and Luxor day tours while they are in Egypt. Visitors can get a glimpse of these well-known cities' rich cultural and historical pasts by taking one of these trips.