A new premium resort may appear on the Red Sea coast in Egypt.
The Egyptian authorities decided to build up the tourism infrastructure with the help of foreign investors. The UAE will build a resort on the Mediterranean Sea coast, and Saudi Arabia or Qatar will do it on the Red Sea coast.
Egypt is ready to give up a site in the northern part of Sharm el-Sheikh with the Ras Ghamila lagoon for a new resort; the possibility of building resort areas on separate areas on the coast from Hurghada to Marsa Alam is also being considered, local media write.
Ras Ghamila Reef is the pearl of Sharm El-Sheikh. This place has an unusually rich underwater world. Saudi Arabian investors want to transform the site into a premium resort with high-end five-star hotels, which will attract wealthy foreign tourists to Egypt.
