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The meeting aimed to review procedures for exploiting the investment zone at the Sharm El-Sheikh Airport
Arab Finance: The Egyptian government is considering establishing an entertainment city at the Sharm El-Sheikh Airport premises, Minister of Civil Aviation Mohamed Abbas Helmy said in a meeting headed by Prime Minister Mostafa Madbouly.
In the presence of Minister of Civil Aviation Mohamed Abbas Helmy and President of the Egyptian Airports Company Ahmed Mansour, the meeting aimed to review procedures for exploiting the investment zone at the Sharm El-Sheikh Airport.
Helmy revealed that a consulting office has been assigned to prepare the project’s book of terms and specifications.
Moreover, he added that a market study of the area had been conducted in coordination with tourism investors to determine the most suitable approaches to make use of the land.
The proposed investment area spans approximately 4.18 million square meters, the minister said.
The project will be implemented in three stages, whereby a commercial area, as well as an entertainment area, a hotel, a sports club, he added.
In coordination with the General Authority for Investment and Free Zones (GAFI), a study is currently underway to explore the participation of the private sector in this project through local and international bidding, Helmy highlighted. |
