Global Sphere... new hotel development in the works
Global Sphere signs $204m hospitality deal in Egypt
DUBAI, July 27, 2015
UAE investment company Global Sphere has signed a Dh750 million ($204.1 million) contract for a new luxury hotel on the northern coast of Egypt.
Located in Egypt’s El Alamein area, the 500-room GS International Hotel will be the Gulf’s firm’s first hospitality project.
El Alamein lies 106 km west of Alexandria and 240 km northwest of Cairo and is famous for the epic World War II battle between the Allied and the Axis forces.
Group chairman Dr Abdullah Al Sayegh said that the company is also studying a number of future investment projects including education, tourism and agriculture sectors. – TradeArabia News Service