Arab investors compete for three Egyptian tourism companies
Egypt, Business, 4/29/1999

The Egyptian government is planning to sell three large tourism companies affiliated to the Egyptian public works sector. The companies own more than 18 hotels and tourism resorts, including one sale that would be valued at nearly 7 billion pounds.

Sources in the Egyptian Ministry of Works said that these companies include Igoth, and Egypt's major hotels.

The sources expected that Arab and foreign investment groups will compete to buy these companies, but the same sources expected the companies to be sold to major investors from Arab businessmen concerned with buying Egyptian tourism establishments.

Previous Stories:
  Italian $180 million tourism project studied in Sharm El-Sheik   (4/27/1999)
  Selling 39 percent shares of Rihana hotel at Red Sea   (4/26/1999)
  25 offers to buy Egyptian internal trade companies   (4/26/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search