Al Walid Bin Talal: Successful investment in Egypt
Egypt-Saudi Arabia, Business, 1/17/1998
Saudi businessman Prince Al Walid Bin Talal Bin Abdel Aziz confirmed that studies prepared by a well known consulting office in the field of investment showed that investment opportunities in the Valley Project in Egypt (Known as Toshky) are safe and lucrative.
He added that as a result of those studies, work is underway to reclaim and cultivate 1400 feddans out of 5000 feddans that had been purchased by the Royal Investment Company which he owns. New urban areas will be set-up with an investment value of $ 1.5 billion.
The Saudi Prince stated that he visited Egypt after the terrorist attack in Luxor in order to assert EgyptÕs ability to fight terrorism and that his company will set up new hotels in the areas of Sharm Al Sheikh, Luxor and Hurghada.
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