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Italian $180 million tourism project studied in Sharm El-Sheik
Egypt-Italy, Business, 4/27/1999
A group of Italian businessmen are studying implementing a tourism project in Sharm El-Sheik that comprises establishing a tourism and entertainment city at a cost reaching nearly $180 million with full Italian financing.
Ahmed Shawki, the representative of the Italian group in Cairo, said the project comprises establishing a hotel with 1,500 rooms in the first stage on 800,000 cubic meters and that the Italian investment volume reaches one billion pounds.
Shawki also confirmed the existence of a great demand from Italian investors on tourism investment in Egypt.
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