Tower Developments invests in Port Said and Sharm El Sheikh

Tower Developments will build a EGP 5 bn in a resort in Port Said and EGP 1 bn on a Sharm El Sheikh hotel,CEO Ahmed Lashin told Al Borsa. The first phase of the ‘Tower Bay’ Port Said project, which should be completed in four years, will cost EGP 800 mn and consists of a commercial area, a 215 room Hilton hotel, 209 homes and a school. Tower Bay appears to be the same project that Port Said governor Adel Al Ghadban broke ground on at the end of October.