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14 GCC, Egyptian investors request North Coast land for tourist resorts: Ministry official

TDA aims to offer North Coast land tender in second half of 2015 as part of country’s intention to develop region.
14.05.15 | Source: Daily News Egypt

The Tourism Development Authority (TDA) has received 14 requests from Egyptian, Emirati and Saudi investors intending to acquire lands along the North Coast.

A Ministry of Tourism official said the authority has not yet offered lands in this zone, but it is taking into consideration these requests when the lands are offered. He added that the requests vary between hotel projects, marina and tourist housing.

Last Thursday, TDA CEO Serag El Din Saad, told Daily News Egypt he expects offering lands on the North Coast in the second half of this year.

As reported by Saad, the TDA is in the final phases of receiving the security permissions for offering these lands, but there is no final decision on the methods of offering the lands as yet.