PHOTO
Image used for illustrative purpose. A machine works at the construction site of the future Light Rail Train (LTR) project "Al-Salam - New Administrative Capital (NAC)" to link with 10th of Ramadan and the El-Salam district in east Cairo, Egypt July 9, 2019.
Cairo – Mubasher: MAK Investments Holding, a subsidiary of Mohammed Abdulmohsin Al Kharafi and Sons Company (MAK Group), signed a contract to build a new M?venpick hotel in Port Ghalib on the Red Sea’s western shore.
With total investments of EGP 500 million, the new hotel is scheduled for completion within two years, according to a statement by the Egyptian General Authority for Investment and Free Zones (GAFI) on Tuesday.
In a separate statement, MAK revealed that Port Ghalib consists of three phases, spanning over 30 million square meters, with expected investments of EGP 2 billion.
Source: Mubasher
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