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TDA revokes 22m metres from investors over ‘lack of commitment’: Tourism ministry

Ministry follows up with projects to be implemented, as per timetable with investors, withdraws land from uncommitted investors.
18.02.15 | Source: Daily News Egypt

The Tourism Development Authority (TDA) took back 22.2m square metres of land from investors as a result of their lack of commitment in implementing projects, according to a statement from the Ministry of Tourism on Tuesday.

TDA issued approval for 29 projects in the Red Sea area by the Gulf of Aqaba, as well as tenders for 655,000 sqm for projects in Ain Sokhna, with a total hotel capacity of 2,000 rooms and 1,530 housing units.

According to the report of TDA sent to the ministry, 167 initial and executive projects were reviewed and authorised, relating to development and investment in the tourist development areas in the Gulf of Aqaba, Red Sea, Ras Sedr, Ain Sokhna, and the North Coast.

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