CABINET WATCH-

The cabinet approved a draft decision putting forward fresh incentives aimed at boosting hotel capacity, according to a statement. Under the incentives, the government will scrap the fees that accompany switching up the use of land or buildings originally bought or set up for residential, commercial, administrative, or mixed-use projects into hotels.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The details: The decision grants projects — including hotels, resorts, boutique hotels, heritage hotels, and eco-hotels, as well as holiday home units — conditional exemptions from paying improvement fees typically required when converting land or building use to hospitality purposes under the Building Law. You can check out our detailed coverage of the incentive here.

REMEMBER- The government aims to attract some 30 mn tourists annually by 2030, for which it plans to add some 240-250k rooms to the existing hotel room capacity.

LOGISTICS-

The Transport Ministry is in talks with a Kuwaiti investor to develop, manage, and operate a 200-feddan logistics zone in Sadat City, General Authority for Land & Dry Ports head Sayed Metwally told Al Borsa. Preliminary feasibility studies have been conducted and handed over to the investor, with an MoU expected soon.

EXPANSION-

Transport Ministry-affiliated construction firms are looking to secure up to USD 100 mn worth of projects in Morocco over the next two years, government sources told Asharq Business. The companies plan to enter the market through road, bridge, and railway projects. Firms are already in talks with their Moroccan counterparts to form joint ventures ahead of competing for projects — Ali Tazi, head of the Egyptian-Moroccan Business Council, expects Egyptian firms to secure contracts worth up to USD 1 bn.

DEFENSE-

French defense and security firm Thales and the Arab International Optronics (AIO) have signed a new cooperation framework that expands their decades-long partnership, in a bid to boost the country’s local manufacturing and advanced defense capabilities, according to a statement(pdf).

Tags: