Egypt gas find sparks panic in Israel about Israeli reserves    Oil tumbles 7 percent as weak China data revives growth fears    Beirut protesters must leave environment ministry: Interior min    Egyptian pound steady at official auction, weaker at exchange bureaus    Zambia's Mayuka signs for French side Metz    Apple explores move into original programming business - Variety    373 Egyptians return from Libya through Salloum border crossing    German unemployment drops as economy brushes off global slowdown    Egypt's Sisi to kick off three-day Beijing visit as part of Asia tour    Kompany backs Chelsea, Arsenal to shine in Premier League    Inter Milan's Hernanes signs three-year deal with Juventus    Factory fire kills 1 in Egypt's Damietta    Sisi's Challenge Grows as Egypt Mandarins Object to Lower Pay    Saudi Arabia, Egypt to cooperate in peaceful use of nuclear energy    In Ukraine, 141 still hospitalized after violent protests    Islamist militants attack African Union base in south Somalia    US Open 2015: Maria Sharapova pulls out injured in New York    Unprecedented migrant crisis forces EU to seek answers    Healthy workplace tied to fewer obese young workers    4-Dimensional Plan Announced To Tackle Assiut Oil Leak    Alleged Ansar Beit Al-Maqdis member killed in Cairo    Egypt increases efforts to acquire Security Council seat    Egypt parliamentary elections to start 17 October    BREAKING: Egypt parliamentary elections to start 17 October    Proverb of the day: He who is on dry land is a great swimmer اللي ع البر عوام    Egypt summons UK ambassador for slamming Al Jazeera trial    ‘Devastated' Peter Greste urges Sisi to pardon Al-Jazeera trio    Egyptian police arrest death-sentenced former Islamist MP    Free visits to all Egyptian archeological sites given to American child    Sisi embarks on a historic visit to Singapore    BREAKING: Egyptian court sentences three Al-Jazeera journalists to three years in jail    Reaching out for the Russians    Changes in Iran    Political parties in disarray    Policemen back to work    Republican praise for Al-Sisi    Giant steps    The ‘Bulldozer' runs out of steam    Rewarded with an Olympics    Kibbeh Seneya    Yemen: The hard last mile    CINEMA    MUSIC AND DANCE    The unique project of Gamal Al-Ghitany    Egyptian government cannot halt Semenkha statue sale: Antiquities minister    Proverb of the day: Your son will be as you raise him and your husband will be as you train him ابنك على ما تربيه وجوزك على ما تعوديه    Grand Egyptian Museum to be managed internationally: Antiquities minister    Warner Brothers in talks to make movies in China    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

A Home at the hotspot: Abu Soma capitalizes on Red Sea's comparative advantage
Published in Daily News Egypt on 05 - 12 - 2007

CAIRO: "The Red Sea has become an [integral] component of Egyptian tourism, a new sub-sector that has developed on the oasis to become bigger - in terms of number of arrivals - than other traditional [tourist sites], Farid Saad, chairman of Abu Soma Development Company, told Daily News Egypt.
Expanding on the various benefits the tourism industry has to offer investors, the company developed Soma Bay 15 years ago as a holiday destination on the Red Sea coast, offering tourists a chance to experience a different side to Egypt.
Seeing continuous success and an increasing number of visitors, the company is currently expanding with two new properties slated to open in 2008. It's also making a foray into the resort housing domain.
Investors in the tourism industry realize the contribution of their business to Egypt's overall economic growth and are calling on the government to tackle infrastructure issues that may hinder further progress.
Operating under the slogan, "The ultimate resort destination on the Red Sea, Soma Bay has "tried to position itself in the upper end of the market, Saad said.
Surrounded by lower-priced resorts developed by individuals in Taba, Sharm El-Sheikh and Hurghada, Soma Bay stresses that it targets the upper-end clientele. "We built our facilities to international standards and we have to position ourselves there, he said.
Conveniently located just 45 km from Hurghada International Airport, 40 km from El-Gouna Resort and 160 km from Marsa Allam, the resort includes three hotels: Sheraton Soma Bay Resort, Robinson Club and La Résidence des Cascades.
"We have an attractive site with sandy beaches, year-round sunshine, top-of-the-line hotels, golf courses and a grand Spa and Thalasso Center, Saad said. The enticing combination is what attracts European clientele, and the fact that it's about four hours away makes it all the more convenient to visit the self-contained peninsula.
The Red Sea's comparative weather and location advantages over its counterparts, such as the Caribbean, Dubai, South Africa and the Far East, keep tourists coming back.
In 2008, the company will build on its success by opening two resorts. One of these is "the Breakers Diving and Surfing Lodge, a reasonably priced 160-room hotel being established right next to the Dive Center, he said.
The second hotel is the Kempinski Hotel Soma Bay, marking the hotel chain's debut in the Egyptian market. Designed as a Moorish fortress with oriental accents, the hotel features an impressive system of pools, waterfalls and lagoons that extend over 7,000 square meters.
Abu Soma will also introduce the Soma Breeze Hotel Residences, which will include furnished apartments with hotel configurations over an area of 40,000 square meters overlooking the sea and golf course.
"We [currently] have three large real estate agencies in Europe marketing this project, he said.
Although the apartments come at a hefty price tag, Saad feels it is an attractive option for those seeking to invest in a year-round resort destination.
However, Saad argues that Egypt could do more to attract tourists to the country, especially in the aviation sector.
"EgyptAir continues to be a quasi-monopoly, we still need more flights arriving at Hurghada International Airport, he said.
Promoting more flights to Hurghada - by improving charter flights or the airport in general - would definitely contribute to promoting the array of tourist sites across the country. "If connecting flights are made easier, tourists will be encouraged to fly to other destinations, he explained, "most of our visitors go back to their countries after their stay at Soma Bay.
Nevertheless, he believes that with the growing number of tourist developments in the area, aviation companies will realize the need for more flights. Basically, he said, the competition will eventually lead to easier access.
He called on the government to revise fiscal policies, especially those related to taxation. "The sales tax needs to be rationalized, as well as the high custom duties on imports associated with tourism development, he said.


Clic here to read the story from its source.