Landmark North Coast to launch 5B hotels in Hurghada, El Quseir
Updated 3/26/2024 8:24:00 AM
Arab Finance: The Egyptian tourism investment firm Landmark North Coast is planning to set up two hotels in Hurghada and El Quseir, with investments of around EGP 5 billion, Chairman Gehad El Tantawy told Al Arabiya Business.
With a total room capacity of over 400 rooms, the construction works of the two hotels will be complete within three years, El Tantawy said.
He added that the company will commence the construction of both hotels within the current year.
He also mentioned that the construction cost of each room is estimated at EGP 12 million, given the high prices of building materials.
El Tantawy noted that tourism flows from the Gulf countries made up 50% of total flows to the North Coast, compared to less than 20% over the past two years.
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