Emirati businessman Khalaf al-Habtoor renewed his desire to invest in the Regal Heights Hotel, the largest hotel in the el-Alamein tourist area in Egypt, following the historic deal between Egypt and the UAE in the Ras al-Hikma area.
Habtoor said on his official Facebook page on Saturday, that the announcement of the historic investment initiative constitutes a great incentive for a large number of businessmen to invest in Egypt.
“Encouraging businessmen to invest begins with setting logical and realistic foundations for any process aimed at making it successful, and not the other way around,” he said.
Habtoor continued: “Here I renew my desire to invest in the Regal Heights Hotel, which was offered to us in the tourist area of el-Alamein. We had entered into negotiations to buy it, but we were shocked by the imaginary prices required for sale, which exceed reality.”
“Our offer to invest in this hotel was according to the average price of hotel rooms in the world, which is the system adopted globally in the most important tourist cities such as New York, Paris, London, Berlin and Dubai.”
“If we succeed as investors in this hotel, we will, God willing, become a gateway for investors from all over the world,” he concluded.
Egypt and the UAE on Friday signed the Ras al-Hikma deal, the largest foreign direct investment in the history of Egypt.
The representative of the Egyptian side in the project will be the New Urban Communities Authority, with the Abu Dhabi Developmental Holding Company (ADQ) from the UAE’s side.
The ADQ will invest US$35 billion in Ras al-Hikma, a coastal region located approximately 350 kilometres northwest of Cairo.
