Court confirms Ahmed Ezz's ban from parliamentary elections    Al-Sisi meets Hashemite king, discusses ‘war on terrorism'    More Egyptians return to Egypt from Libya    GDF Suez returns to Profit; warns on Oil-price hit    HSBC Chief leaves Lawmakers puzzled by ‘Quite Strange' Pay Setup    Sisi meets Coca-Cola and Siemens Chiefs to boost investments in Egypt    Sanofi wins Approval for New Insulin Drug    Marijuana legalized in Washington D.C., but Congress isn't Happy    Cairo explosion kills one    University Students Live the Stock Market Moment    Four Years after Egypt Uprising, Patronage Politics Dominate Again    Dozens of suspected militants killed in Egypt's North Sinai    Ukraine heaps on Economic Pressure as Central Bank confuses, Truce takes Hold    Australian PM strikes Conciliatory Note over Indonesia Executions    Suicide Attack on Turkish Embassy Car in Kabul kills One    Al-Ahly maintains global lead despite CAF Super Cup loss    Formula 1 winter tests in Barcelona    $6bn foreign company investments in FY 2015/2016: El Molla    Chris Bush to miss Miami Heights till end of season    Egypt funds first of several dams in South Sudan    2 prisoners allegedly die of torture in Matariya Police Station    Egyptian pound steady at official auction, weaker on black market    Billions of spending on electoral campaigns face ghost of court ruling    Formula One: Alonso leaves hospital after testing crash    VIDEO: Failed Messi penalty could be Barca's 'what if' moment    Greece will not complete power utility, grid operator sales: minister    Clubs to get no compensation for a 2022 winter World Cup - FIFA    Russian wheat arriving in Egypt after export tax delays: Trade    Shoukry's international tour tackles regional tensions    Dozens of Detainees expected to be released in Egypt: NCHR Member    Meem: An animation in the face of taboos    Syria fighting kills 132 Islamic State fighters: Monitor    France says Russia would face more sanctions if Mariupol attacked    Human rights in Egypt face obstacles that will soon be eliminated: Ziada    Cholera feared in Syria due to dirty water, WHO warns    Africa Cup of Nations: Egypt Confirms 2017 Bid Withdrawal    Washing dishes by hand linked to fewer allergies in kids    ‘Birdman' wins Four Oscars, including Best Picture    Egypt activist Alaa Abdel-Fattah sentenced to 5 years in prison    'Ida' wins Oscar for best foreign language film    Complete list of winners of Oscars 2015    'Birdman' wins four Oscars, including best picture TRAILER    Sisi says culprits will be punished in killings of activist, football fans    Oscars 2015: 10 Fun Facts about Hollywood's Biggest Awards Show    Egypt's Cabinet to pay EGP100,000 for families of stadium disaster    In Pictures: Egyptians ask for intercession on Mulid Al-Hussein    Cairo Japanese Film Festival begins 15 February    Antiquities ministry requests EGP 488m to continue projects: Cabinet spokesman    







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.