Global Sphere signs US$ 204 mn contract for a new luxury hotel in Egypt

Posted on 27th July 2015

UAE investment company Global Sphere has signed a Dh750 million ($204.1 million) contract for a new luxury hotel on the northern coast of Egypt.

Located in Egypt’s El Alamein area, the 500-room GS International Hotel will be the Gulf’s firm’s first hospitality project, according to tradearabia news reports.

El Alamein lies 106 kilometres (km) west of Alexandria and 240 km northwest of Cairo and is famous for the epic World War II battle between the Allied and the Axis forces.

Group chairman Dr Abdullah Al Sayegh said that the company is also studying a number of future investment projects including education, tourism and agriculture sectors.

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