Saudi Prince to Invest $800m in Egypt’s Hospitality Sector

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Recent reports claim that Al-Waleed bin Tala (Saudi Prince) is eying on an $800 million investment in Sharm el-Sheikh, a four season resort in Egypt.

According to Reuters, Sahar Nasr (Investment Minster Egypt) claimed that Talaat Moustafa Holding Group is the joint investor with the Saudi Prince.

Alwaleed is also looking to establish a couple of hotels, one in Egypt’s town named Al-Alamein, near the Mediterranean coast and second in Cairo’s residential compound named Madinaty.

Almost 40 hotels and resorts are already owned by the Saudi Prince, only in Egypt. Apart from that, Alwaleed’s 18 hotels are under construction.

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