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FINANCIAL NEWS
Kharafi announces 40% completion of Egypt’s project
25 Mar 2010
(MENAFN) Kuwait’s M.A. Kharafi Group said that 40 percent of the first phase of its $2 billion Port Ghalib project in Egypt is completed.
The firm said in a press statement that a large conference center, several retail and commercial outlets, an international marina, four already operating hotels including The Palace by Intercontinental, The Oasis and The Sands by Crown Plaza and Marina Lodge, along with a substantial residential offering has been built and is ready for occupation.
According to the statement, when complete, phase one of the development will incorporate a further 19 hotels, as well as a yacht club, an 18-hole golf course and further entertainment facilities and services.
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