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Red Sea governorate approves beginning of developments of Sheraton Hurghada Hotel

Governorate ends conflict with Saudi-Egyptian Co. providing construction works licence for hotel’s development.
05.04.15 | Source: Daily News Egypt

The Red Sea governorate agreed to provide a construction work licence for the Sheraton Hotel and Resort project to the Saudi-Egyptian Company for Red Sea Investments, according to a company official.

The official added that the company will inject EGP 2bn to the development of the resort located on the area of 82 acres in northern Hurghada.

Daily News Egypt revealed in the middle of March that the Council of Ministers’ Dispute Resolution Commission managed to settle disputes between the company and the Red Sea governorate regarding the Sheraton Hurghada Hotel.

The agreement signed between the company and the governorate outlined that the company pays EGP 30m to the governorate in exchange for ceding all cases filed between the two parties.