WORLD LARGEST FOUR SEASON RESORT TO BE BUILT IN EGYPT

  • As new investment law is ratified in Egypt to ease foreign investment opportunities, Prince Alwaleed bin Talal infuses USD 800 million into Resort expansion in Sharm El Sheikh.
  • According to latest BNC report released by The Big 5 Construct Egypt, there are approximately USD 5.3 billion worth of hospitality projects in Egypt today. 

800 new rooms will soon be added to the Four Seasons Resort of Sharm El Sheikh, making it the world’s largest Four Seasons, with a total of 1,400 keys. Saudi billionaire Prince Alwaleed bin Talal announced a USD 800 million investment to expand the resort in the popular Egyptian tourist destination on the Red Sea, few weeks after the Egyptian Parliament ratified the country’s new investment law. 

Easing investment opportunities, cutting down bureaucracy and providing incentives to investors, the new law is expected to further boost the tourism and construction sectors in Egypt. According to the latest BNC report released by The Big 5 Construct Egypt (“Egypt Tourism and Hospitality Market Snapshot 2017”), there are over USD 335 billion worth of active construction projects in the country, 5% of which belong to the hospitality sector.

Thanks to a recovered political stability, state led initiatives and the new investment law, we expect the tourism sector, which is vital to Egypt’s economy, to pick up in 2017, further inflating the demand for new hotels and resorts,” comments Andy Pert, Exhibitions Portfolio Director, of The Big 5 Construct Egypt, a leading international construction event launching in Cairo in 2018.

There are approximately USD 5.3 billion worth of hospitality projects in Egypt today, 70% of which are in the initial stages of construction showing a healthy pipeline, as per The Big 5 Construct Egypt’s report. Beyond the Four Season resort, other notable projects currently underway to attract tourists include the Ritz-Carlton Resort in Sharm El Sheikh, and the Jumeirah Gamsha Bay Resort in Hurgada.

New developments in the hospitality industry are spread across the country, with Cairo’s rapid urban expansion fueling the demand for additional hotels and resorts in the capital city, which already hosts over 20 million people. “Cairo holds the record of construction activities in Egypt. Here, the demand for products and materials for the built environment industry is booming, and we expect the construction sector to grow further in the coming years,” confirms Mr. Pert.

To meet this growing demand, a leading international exhibition company, dmg events Middle East, Asia & Africa, is bringing to Cairo its most successful and renowned construction event, The Big 5. From 15 to 17 September 2018, the New Cairo Exhibition Centre will host The Big 5 Construct Egypt, where hundreds of local and international manufacturers and suppliers of construction products will showcase the latest global, sustainable innovations and solutions for use in all current and planned developments.

Alongside the exhibition, a Global Meetings program will enable business matchmaking, while The Big 5’s Continuing Professional Development (CPD) certified workshops will offer a unique education programme dedicated to active industry professionals. According to the organisers, a high-level, paid for ‘Big 5 Investor Summit’ will also attract global and regional institutional and private investors in Egypt’s built environment sector, to discuss current and future construction related project opportunities across the country.

To know more about The Big 5 Construct Egypt, visit www.thebig5constructegypt.com

Download the full “Egypt Tourism and Hospitality Market Snapshot 2017” at www.thebig5constructegypt.com/industry-report/

Industry News
Contact us
Elisha Dessurne Public Relations Executive, dmg events Middle East, Asia & Africa
Jessica Scopacasa Public Relations Manager, dmg events Middle East, Asia & Africa
Elisha Dessurne Public Relations Executive, dmg events Middle East, Asia & Africa
Jessica Scopacasa Public Relations Manager, dmg events Middle East, Asia & Africa
About The Big 5 Construct Egypt

2-4 September 2019, Egypt International Exhibition Center

EVERYTHING INFRASTRUCTURE & CONSTRUCTION. BUILDING THE NEW EGYPT.

Organised by dmg events, The Big 5 Construct Egypt is the most influential and renowned construction industry event in Egypt. 

In 2019, the event offers 360-degree solutions for the Egyptian built environment, connecting industry experts, buyers and manufacturers of construction products from all over the world.

With more than 300 exhibitors from over 30 countries, the event also features eight dedicated product sectors and a wide educational agenda comprising more than 50 CPD-certified workshops.

On its first edition in 2018, 200+ companies from 24 countries brought hundreds of innovative products to Egypt’s booming USD 335 billion construction market. Over 11,300 construction industry professionals attended the launch of the event, which also offered 44 CPD certified free-to-attend workshops.

#Big5Egypt

About dmg events 

dmg events is a leading organiser of face-to-face events and a publisher of trade magazines.

We aim to keep businesses informed and connect them with relevant communities to create vibrant marketplaces and to accelerate their business across multiple platforms.

dmg events organises more than 80 events across 25 countries, attracting over 425,000 attendees and delegates every year.  The company’s portfolio of products includes many industry leading events such as The Big 5 construction shows, ADIPEC and Gastech energy events.

Founded in 1989, the company is headquartered in Dubai, UAE, and is a wholly-owned subsidiary of the Daily Mail and General Trust plc (DMGT, www.dmgt.com), one of the largest media companies in the United Kingdom.