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Mon 26 Jan 2015 01:43 PM

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Qatari Diar said to win approval for major Egypt project

Developer reportedly wins nod to progress with mixed-use project in North and South Sinai

Qatari Diar said to win approval for major Egypt project
Qatari Diar

Developer Qatari Diar has reportedly won approval to progress with a major tourism project in Egypt.

According to local media, the Egyptian Ministry of Defence has approved the implementation of a $2.16 billion project in North and South Sinai which will include hotels, shopping malls and residential homes.

The project was earlier proposed by the country’s Tourism Development Authority (TDA), the Daily News Egypt reported.

It said that Qatari Diar currently has two major projects in Egypt. One of them extends along the Nile Corniche, and the other is a big hotel in Sharm El-Sheikh.

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