Egypt's Health Minister reviews upgrades at Gustave Roussy Hospital    Giza Pyramids' interior lighting updated with new LED system    Suez Canal Bank partners with CRIF Egypt to advance sustainability through Synesgy    Russia hits Ukraine with huge barrage as first Australian tanks arrive    Russia unveils 'Kinzhal' interceptor drone to counter low-altitude threats    Lebanon's PM says US proposal includes full Israeli withdrawal, state control of arms    Saib reopens Mansoura branch after comprehensive renovation    ABE signs cooperation protocol to finance beneficiaries of state-owned lands in Minya    Sandoz Egypt introduces OMNITROPE 15mg biosimilar growth hormone for the treatment of short stature    Egypt After 2025: Navigating a Critical Inflection Point    Egypt's EHA, Huawei discuss enhanced digital health    Spot Gold, futures slips on Thursday, July 17th    Egypt, Oman discuss environmental cooperation    Egypt expresses condolences to Iraq over fire tragedy    Egyptian, Belarusian officials discuss drug registration, market access    Sri Lanka's expat remittances up in June '25    Egypt's Health Min. discusses drug localisation with Sandoz    EU–US trade talks enter 'decisive phase', German politician says    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



Investments worth EGP 9bn in 59 projects on TDA lands by end of current FY: TDA Chairman
TDA's activity growth before the end of FY 2014/2015 led to financial surplus of EGP 258m at the Ministry of Finance
Abdel Razek Al Shuwekhi Published in Daily News Egypt on 03 - 06 - 2015

Investments in 59 projects are expected to initially reach EGP 9bn by the end of the current fiscal year (FY) 2014/2015, according to Tourism Development Authority (TDA) Head Serag El-Din Saad.
According to Saad, the estimated costs for the projects are EGP 2.8bn, although the actual cost of the projects could reach EGP 9bn.
The Red Sea area is on top in number of projects approved by the TDA, with 52 projects on a land space of 9.5m sqm, followed by Ain Sokhna with six projects on a land area of 405,000 sqm.
Saad believes the TDA succeeded in taking advantage of the extra land spaces in some of the projects' lands and offered them for sale to investors. This would increase the added value to these lands and double the income of the authority.
"These results led to a financial surplus worth EGP 258m to the Ministry of Finance for the current FY 2014/2015," Saad said.
Saad expects the TDA's income would increase by the end of FY 2014/2015 by EGP 600m, a growth of 30% compared to last year's income.
The final allocation approvals for lands sent by TDA in FY 2013/2014 amounted to 26 approvals, with investments worth EGP 1.6bn, according to Saad.
The new projects in the Red Sea area vary between nine projects on a land area of 816,000 sqm, another three projects, and expansions on extra land spaces of 157,600 sqm. There are another two projects on extra land spaces of 33,000 sqm, as well as a project for expansion of road transport on a land area of 255,000 sqm, as per TDA head.
Hotel rooms which were included in the service amounted to roughly 1,600 rooms in the second quarter (Q2) of FY 2014/2015. Tourist housing units, on the other hand, amounted to 600 units.
The expected land areas which will be offered in the second half of FY 2014/2015 cover 12m sqm, with investments up to EGP 6bn distributed in the Red Sea area, Gulf of Suez, and the North Coast.
Saad added: "The North Coast and Gulf of Suez lands will be offered in coordination with the governorates, in order to guarantee the full development of the area and that the local community benefits from it."

Clic here to read the story from its source.