Egypt intends to invite bids for a hotel project in Badr City east of the capital Cairo after approving the allocation of a land for the project.

The Housing Ministry said in a statement carried by Addustour newspaper on Tuesday that the land has an area of around 2.7 million square metres and that the project must be completed within six years.

The project will be set up in the entertainment area of Badr City and it comprises a 29-metre high hotel and other facilities.

“Companies undertaking this project will commit to executing the entire project, including a hotel and other buildings, within the specified period…failure to meet the deadline will result in legal measures being taken against them,” the statement said without providing further details of the project.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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