Egypt plans 1,000 hotel rooms in Port Said with EGP 1B investments
Updated 9/24/2024 11:21:00 AM
Arab Finance: The Egyptian government is set to announce plans for the construction of 1,000 hotel rooms in the archaeological area of Farma and two adjacent locations in Port Said Governorate, with estimated investments exceeding EGP 1 billion, unnamed government sources told Al Arabiya Business.
This initiative is part of the broader investment strategy for the Holy Family Path.
The investment plan for the Holy Family Path has been completed across 11 governorates, highlighting that the project in Farma will be executed in collaboration with the General Authority for Investment and Free Zones (GAFI).
In February, Egypt’s Ministry of Tourism, in cooperation with GAFI, unveiled investment opportunities in the Holy Family Path renovation project across 11 governorates this year.
The government has already completed 70% of the project’s investment scheme, which targets adding from 7,500 to 10,000 new hotel rooms, the official said.
Furthermore, the official expects the Holy Family Path’s tourist program to attract around 1 million tourists in 2024 and 3 million tourists by 2028.
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