The coastal region is poised to become a comprehensive center comprising tourist attractions, financial hubs, and free trade zones, supported by advanced infrastructure.
This collaboration is anticipated to enhance Egypt’s economic and tourism prospects significantly.
Prime Minister Mostafa Madbouly emphasized that the project entails a partnership with the UAE and does not entail asset sales, with Egypt retaining a certain stake in the project.
He noted that Egypt will receive an initial payment at the project’s onset and will also benefit from a share of the project’s revenues.
Here’s a comprehensive overview of the multi-billion dollar partnership:
