Egypt

Over the last few years, the government's economic revitalization programs have removed many obstacles to investment from abroad. Real estate and tourism are among the most promising sectors for Japanese investment, and two of the most ambitious projects are Sahl Hasheesh and La Siesta mountain resort - both located on the Red Sea.

On the edge of the Egyptian desert, just four hours away by car from the Nile and the archaeological sites of Luxor and Karnak, lies Hurghada. Once a small fishing village, it has been transformed into one of the best tourism locations on the Red Sea.

As part of this development, the Egyptian Resorts Company (ERC) bought the rights to an area called Sahl Hasheesh. Just 20 kilometres south of the Hurghada International Airport, Sahl Hasheesh has been developed as an all-year destination that is directly accessible from Europe and Asia.

"Through an extensive network of landscaped properties and untouched desert areas, it offers its guests a large variety of hotels, villas, sporting activities, golf, a marina and promenades," says its enthusiastic managing director, Dr Hussein Abu Seida.
Hussein Abu Seida, the managing director of Egyptian Resorts Company

"Due to the excellent location and high-level infrastructure, ERC has sold more than half of the land parcels, which will be developed by individual investors. Opportunities that still exist include: hotels & time share residences, second homes and golf courses adjacent to residential areas, and villas in the town center."

"Our mission is to create a resort town unparalleled on the continent of Africa and the Middle East," stresses Dr Abu Seida, "and it is guaranteed that the resort will satisfy the needs of every visitor."

Overlooking the Red Sea

On the eastern side of Egypt's North Galala Mountains extending along the western coast of the Gulf of Suez, the La Siesta development will be the first of its kind in the country.

Planned as an exclusive mountain resort, the resort is located in the El Sokhna Red Sea area on the road to Hurghada. The residential area consists of 42 villas, all with splendid views of the Red Sea below.

Saad El Aguizy, chairman of Saad El Aguizy & Co. (left), shown with company Vice President Gamal El Aguizy

Saad El Aguizy, chairman of the company managing the project comments on the area's prospects and possibilities: "We are looking for investors to rent the hotels or obtain concessions for building and running hotels in the resort."

"The Japanese should look to invest in the Middle East and Africa," he adds. "We assure the Japanese community that we can provide them with profitable and viable projects. We always work in cooperation with first class local and foreign consultants, and our feasibility studies are done in tandem with European and Arab banks. Our ultimate goal is to give developing countries profitable solutions to their deficit and debt problems."

For more information on investment opportunities in the Sahl Hassheesh development. For details on the La Siesta resort, contact: The North Galala Mountains Tourism Investment Company (La Siesta), with email: [email protected] and telephone: +202 392 4786.

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