State keen on encouraging tourism investments, esp. on North Coast

The State is keen on encouraging tourism investments, especially on the North Coast, a unique part of Egypt, which helps promote opportunities for tapping into the promising potential and advantages of this region and turning it into a tourist and economic hotspot all year round, Prime Minister Mostafa Madbouly said.

Madbouly made the remarks while participating in the opening ceremony of a new hotel of Emaar Misr for Development, a leading real estate developer, in the Marassi North Coast resort, in the presence of Mohamed Alabbar, founder of Dubai-based real estate developer Emaar Properties.

As the 11th hotel in the Marassi portfolio, the new “Palace Beach Resort Marassi” hotel was established with an estimated investment cost of LE nine billion, marking a new milestone in Emaar Misr’s 18-year journey in Egypt.

The inauguration of the new hotel is the latest move in Emaar Misr development’s strategy to redefine the concept of luxury tourism by offering hotel experiences on par with major international destinations.

This step has been taken amid the rapid recovery of Egypt’s tourism industry, buoyed by the State’ vision to enhance its position on the global tourism map by combining the country’s rich history with diverse natural environment and ongoing infrastructure development.