{"id":641614,"date":"2017-09-27T03:59:44","date_gmt":"2017-09-27T03:59:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/27\/erc-to-shift-focus-towards-real-estate-development-outside-of-sahl-hasheesh-for-the-first-time\/"},"modified":"2017-09-27T03:59:44","modified_gmt":"2017-09-27T03:59:44","slug":"erc-to-shift-focus-towards-real-estate-development-outside-of-sahl-hasheesh-for-the-first-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/27\/erc-to-shift-focus-towards-real-estate-development-outside-of-sahl-hasheesh-for-the-first-time\/","title":{"rendered":"ERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time?"},"content":{"rendered":"

<\/a> ERC to shift focus towards real estate development outside of Sahl Hasheesh for<\/strong> the first time?<\/strong> Egyptian Resorts Company is considering shifting its strategic focus towards real estate development beyond its flagship project of Sahl Hasheesh while the tourism industry recovers, CEO Wael Hatow tells Bloomberg in an interview<\/a>. The company is too exposed to the risks of the tourism industry, as ERC\u2019s strategy has relied on selling land to sub-developers in Sahl Hasheesh on the Red Sea coast, \u201cbut this business has been hit by the drop-off in tourist arrivals since the 2011 uprising that toppled President Hosni Mubarak.\u201d While Sahl Hasheesh will remain a \u201cmajor part\u201d of ERC\u2019s business, Hatow says a full rebound in the tourism industry is still years away, which means the company is going to develop new revenue streams while that happens.<\/p>\n","protected":false},"excerpt":{"rendered":"

ERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time? Egyptian Resorts Company is considering shifting its strategic focus towards real estate development beyond its flagship project of Sahl Hasheesh while the tourism industry recovers, CEO Wael Hatow tells Bloomberg in an interview. The company is too exposed to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641614","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"cdf98812-45cc-478b-b944-52f9e2337173","order":"0","is_powered_by":true,"section_story_id":"0c1b548a-a29b-400a-a779-55d0c14efbf2","story_type":"1","photo_url":"","photo_position":"above","related_issue":[641601],"teaser":"","voice_url":""},"yoast_head":"\nERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/27\/erc-to-shift-focus-towards-real-estate-development-outside-of-sahl-hasheesh-for-the-first-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time?\" \/>\n<meta property=\"og:description\" content=\"ERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time? Egyptian Resorts Company is considering shifting its strategic focus towards real estate development beyond its flagship project of Sahl Hasheesh while the tourism industry recovers, CEO Wael Hatow tells Bloomberg in an interview. 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Two of these projects, which will include apartment complexes, will be launched this year, while the third remains under study and is expected to be\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592877,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/11\/egyptian-resorts-company-to-invest-egp-15-bn-in-new-sahl-hashish-marina\/","url_meta":{"origin":641614,"position":3},"title":"Egyptian Resorts Company to invest EGP 15 bn in new Sahl Hashish marina","author":"enterpriseam admin","date":"11 November 2019","format":false,"excerpt":"INVESTMENT WATCH- ERC to invest EGP 15 bn in new marina complex in Sahl Hasheesh: Egyptian Resorts Company (ERC) is planning a large extension to the south of Sahl Hasheesh at an estimated cost of EGP 15 bn, CEO Wael El Hatow said. 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Next up for Trifactory is the \u2018Aswan42\u2019 marathon,\u2026","rel":"","context":"In "Worth watching"","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/12\/595.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":630803,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/01\/pyramisa-hotels-and-resorts-to-invest-egp-500-mn-in-developing-its-hotels\/","url_meta":{"origin":641614,"position":5},"title":"Pyramisa Hotels and Resorts to invest EGP 500 mn in developing its hotels","author":"enterpriseam admin","date":"1 March 2018","format":false,"excerpt":"Pyramisa Hotels and Resorts is earmarking EGP 500 mn to develop and upgrade its hotels in Cairo, Luxor, Aswan, Sharm El Sheikh, and Sahl Hasheesh next year, chairman Magdy Azab tells Al Mal. 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