Thursday 21 Nov
Prime Minister, Dr. Moustafa Madbouly, announced a focus on the North Coast to double tourism and accommodate population growth. He highlighted Egypt's potential to attract twice the current number of tourists, as the SouthMed project adds to the integrated vision that the state has for the development of the North Coast.
This was unveiled during a global press conference held at
the Cabinet headquarters in the New Administrative Capital, in the presence of PM
Dr. Moustafa Madbouly, and the CEO and Managing Director of Talaat Moustafa
Holding Group, Mr. Hisham Talaat Moustafa. They announced a major investment
partnership for the "SouthMed" project on the North Coast. This
venture brings together the government and the private sector.
Talaat Moustafa Holding Group's CEO, Hisham Talaat Mustafa,
hailed the project as a rival to the biggest global ventures. Spanning a
massive 23 million square meters and boasting investments totaling one trillion
Egyptian pounds, SouthMed exemplifies how local investments can compete with
international projects, fostering a healthy environment for both.
Talaat Moustafa Holding Group's CEO, Hisham Talaat Mustafa,
unveiled SouthMed as a global tourism destination projected to generate
significant dollar revenues for the Egyptian state. The project boasts an
impressive one trillion Egyptian pounds in projected state revenue and secured
a remarkable 60 billion Egyptian pounds in sales within hours of opening
reservations.
The "SouthMed" project is located on an area of 23 million square meters, to be a global "Destination" in the southern Mediterranean, and a competitor to the most beautiful beach resorts in the northern Mediterranean, representing a major addition to Egyptian tourism.
Spanning a massive 23 million square meters, the "SouthMed" project aspires to become a world-class destination on the southern Mediterranean. Designed to rival the most stunning beach resorts of the north, it promises to be a game-changer for Egyptian tourism.
