Mariout Hills invests EGP 300mln for first tourist project in its Eco City
Mariout Hills Development, specialised in the establishment of sustainable cities, is preparing to establish the first tourist project in its sustainable city project in the North Coast with a total investment of 300 million Egyptian pounds ($17.79 million).
The project is including the establishment of 200 hotel units and the company is seeking to market 70 percent of the total units to foreign clients.
Mohamed Shaheen Commercial director at Mariout Hills said that the total investment cost of the project is estimated at 300 million pounds. The company also signed a contract signed with long-standing European tour operators to organize trips of European tourists to the sustainable city throughout the year.
Mariout Hills has announced that first Eco City in Egypt phase 1 will be with total investments 2.4 billion pounds ($3.13 billion).
The project encompasses establishing housing units that meet all the environmental requirements which are adopted globally, and relies completely on the clean energy generated from solar power plants as well drinking water produced with condensation technology.