Egypt planning to offer land at Ras Ghamila for sale

Egypt planning to offer land at Ras Ghamila for sale

Egypt’s Minister of Public Business Sector Mahmoud Esmat revealed details behind plans to offer the Ras Ghamila land in Sharm el-Sheikh for investment to the foreign and local private sector.

During a telephone interview with ON TV channel on Friday, Esmat stated: “We are seeking to choose the appropriate model for investment in the land of Ras Ghamila.”

The Ras Ghamila Project is the last piece of land overlooking the sea in Sharm el-Sheikh and the islands of Tiran and Sanafir, and adjacent to Sharm el-Sheikh Airport.

It is the project proposed for partnership with the private sector.

The Ras Gamila area is located on 860,000 acres, he said, and large consulting companies will be used in cooperation with the various relevant ministries – including the Ministry of Housing.

He continued: “We are seeking to make a distinct thing, but the subject is in the study stage, and the appropriate model for investment in this area is being discussed. We are currently conducting a study to achieve the maximum benefit from the land of Ras Ghamila, as it is part of a larger area in the same place, and we are thinking about achieving integration between them.”

A diagram prepared by the ministry revealed plans are