Misr Hotels is postponing the opening of Safir Dahab Resort to the end of 3Q or 4Q2020, from an original planned opening in June, the local press reports, citing a source at Misr Hotels. Construction on the EGP 140 mn hotel is more than half complete, but the rest of the development work may be temporarily suspended due to the covid-19 pandemic.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…