A billion pounds is the cost of restructuring San Stefano Hotel

The total investment cost for the project of restructuring San Stefano Hotel in Alexandria was estimated at nearly one billion Egyptian pounds.

The project consists of a tourist and commercial housing complex.

The ministerial committee for the privatization ratified in last July the sale of the San Stefano Hotel, which is located on of the most famous sites in Egypt's Alexandria governerate, at a cost of 270 million pounds to a group of investors headed by the Talaat Mostafa group for investors.

The group also includes the Egyptian Ahli Bank, Prince al-Walid Bin Talal, and a group of the Egyptian and Saudi businessmen.