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Country-Plan Projects and Tenders |
| 7776 Subject |
750 مليون دولار استثمارات سعودية جديدة للانشاءات السياحية علي كورنيش النيل علي غرار سيتي ستارز A [ second City Stars similar ] $ 750 million tourist project planned by a Saudi Group on the Cairo Nile Cornich announced & scheduled for completion by 2009. |
| Date Published | Thursday, January 13, 2005 |
| Source Name | Al-Ahram |
| Location Name | Cairo |
| Description |
A [second City Stars similar] $ 750 million tourist project is planned by a Saudi Group on the Cairo Nile Cornich, to occupy 11,200 M2 land & to have a 520 hotel rooms capacity apart from 108 hotels suites of 432 rooms capacity, also 2 commercial towers, all scheduled for completion by 2009. Group is identified as NESCO International, established in 1972 by Sheikh Omar Al Hamedi [electrical engineer]. Group has present tangible investments in Egypt, Saudi Arabia, Lebanon, Latvia, Morocco, Dominican, Italy & France. In Egypt, the company owns four hotels projects of 1,000 rooms capacity & they were inaugurated in 2000. At present, the Group is building a $ 70 million Kempinski managed hotel in Sharm El Sheikh of 250 rooms capacity. New project is identified as Ritz Carlton & it is located next to Arcadia Complex on the Nile Cornich. |
| Sectors Section |
Beneficiary Sectors - Electromechanical Works Electromechanical Works - Construction Projects Hotels & Tourist Development |
