TLDR:
- Saudi’s Ajlan & Bros Holding Group plans to invest $1.5 billion in tourism projects in Egypt’s Ras Jamila region overlooking the Red Sea coast
- The proposed investment aims to create up to 3,000 hotel rooms in the Sharm El-Sheikh area
Saudi’s Ajlan & Bros Holding Group is set to invest $1.5 billion in tourism projects in Egypt’s Ras Jamila, focusing on developing approximately 10 hotels with a total of 3,000 rooms in Sharm El-Sheikh. This investment deal includes plans to acquire companies listed within Egypt’s IPO program. The proposal aligns with Egypt’s efforts to attract foreign investment and stimulate economic growth. This initiative follows a recent $35 billion investment deal between Egypt and the UAE, highlighting the region’s growing potential for foreign investments.
