Global Design for Engineering Consultancy is partnering with several investors in the touristic sector to build two hotels at a cost of EGP 300 million, Al Borsa reported.
The company has prepared plans and designs for the project, and expects that construction will begin in the first quarter of 2017, according to Mohab Ezz El Din, CEO of Global Design.
The first hotel will span 14.5 acres along the North Coast and will include swimming pools, entertainment areas, a sports club, public facilities, and a shopping mall, with an estimated completion date within two years, according to Arab Finance.
The other hotel will be located in Sidi Abdel Rahman and over on an area of 11 acres at cost of EGP 165 million. Tenders will be offered to contracting companies next March.