Property developer Emtelak unveils PPP tourist hotel project in Ain Sokhna

Egyptian real estate developer Emtelak is planning to carry out a tourist hotel project in Ain Sokhna, around 120 kilometres (74.5 miles) east of Cairo, its managing director Sunday.

Ziad El Emam further said his company obtained a land plot of 120 feddans to carry out the project which would be with investment cost nearing 1.6 billion Egyptian pounds ($180.2 million),

The project will be carried out under the private-public-partnership system (PPP) in cooperation with one of the property developers, El Emam added.

Emtelak will develop and promote the project in return for a portion given to the company that owns the land, he said.