Egypt’s Marina Management Company has announced that the New Urban Communities Authority (NUCA) directed about EGP 500 mn in FY 2018/19 for the betterment of the infrastructure of Marina Alamein, North Coast, Invest-Gate reports.
The company’s chairman and Former Tourism Minister Hisham Zaazou explained that maintenance fees revenue by Marina owners worth nearly EGP 60 mn annually, which is geared toward the amelioration of the area’s streets, landscape, amongst other services that are aimed at the enforcement of the city’s three-year development plan, he said in a press conference on July 15.
Under the scheme, Marina Management Company intends to plant 300 acres, out of Marina’s total 1,000 acres, where it already began bedding out the area through digging around 350-370 wells for irrigation and using treated sewage, Zaazou emphasized.
Additionally, the company has embarked on a plan to make use of several assets of the coastal city such as leasing multiple seashores and developing free access beaches for owners, in cooperation with some sponsors such as Banque Misr and National Bank of Egypt (NBE), he further revealed.
Currently, the company is negotiating with various government agencies to initiate some new activities in Marina, namely entertainment, sports, and other tourism activities such as the reoperation of the Romanian theatre, which is poised to be a key cultural platform for the North Coast.
“We are also studying the cooperating with the Ministry of Youth and Sports and two other parties for implementing a yacht club and holding sporting activities in Marina, not only during summer but also in winter. This is due to the fact that the city’s infrastructure is essentially eligible for hosting major tournaments,” Zaazou noted.
Marina Alamein presently encompasses nine hotels, accommodating 400 rooms, 10% of which are managed and operated by Marina Management Company. Besides, it comprises 280 shops and 8,600 residential units, the chairman concluded.