Arab Finance: Marsa Marsa Alam For Tourism Development (MMAT) announced that it will establish a touristic project in Sidi Abdel Rahman, North Coast worth LE70 million.
The company stated in a statement sent to EGX that it finalized purchasing a land plot located in Kilo 140 Alexandria - Matrouh road with area of 2 acres in Sidi Abdel Rahman, North Coast amounting to LE6 million.
The company is now conducting procedures of legalization the mentioned land in order to starting the project.
It is worth mentioning, the company intends to finalize the project within 3 years from obtaining licenses.
Source: EGX & Arab Finance editor