Italian $180 million tourism project studied in Sharm El-Sheik

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.