The Qatar Investment Authority has entered into serious negotiations with the Egyptian government to invest in hotels that the state intends to develop as part of the Alamein Riviera tourism project in the western district of the city of New Alamein.
According to the Cairo 24 website, citing informed sources, officials of the Qatar Investment Authority got acquainted with the overall plan of the project and expressed great admiration for its location and components, stressing that the agency aims to invest in the tourism sector and hotels in Egypt in the near future, regardless whether they exist or will be discovered.
The source explained that the Qatari side wants to make new investments in the construction of hotels, since the government approved the transfer of operations after its establishment to international companies such as Marriott, Accor and Rotana.
According to the project’s master plan, it will be built on an area of about 10 million square meters overlooking the coastal strip, stretching for 6 kilometers, which allows the project to be a tourist destination of the north coast throughout the year.
According to what was included in the master plan of the project, 10,250 hotel rooms and 3,975 hotel rooms will be created, which will provide more than 30,000 jobs, and according to studies, the project will attract up to 3 million tourists annually.
The El Alamein Riviera project includes diverse and multi-purpose areas, including a marina, a recreational area for families, other water sports facilities, beach and golf clubs, restaurants and retail stores.
Source: Cairo 24