A new resort will be created in Egypt called South Med or "South Mediterranean". It could open in three years.
In the struggle for tourists, Egypt began to develop the northern regions. Several new resorts will open on the Mediterranean coast in the coming years. South Med is among them. It will occupy 23 million square meters. It will be located a 15-minute drive from El Alamein Airport.
Investments in the project are estimated at $21 billion. The main investor of the project is Talaat Moustafa Group (TMG).
"Southern Mediterranean" is the largest tourism real estate project on Egypt's North Coast, Prime Minister Moustafa Madbouli said. Egypt intends to double the tourist flow thanks to Mediterranean resorts.
The new resort will include not only luxury hotels, but also blocks of apartments for rent. It is expected that South Med's room capacity will exceed 2 thousand rooms.
The infrastructure of the resort area will be comfortable. It will include beaches, restaurants, golf courses, a sea harbour and shopping malls. The main guests of the resort will be wealthy Europeans and Arabs.
The project will be implemented gradually. The first stage could be put into operation in three years.
