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Wednesday, 6 June 2018

TDA to resume issuing land tenders in August

The Tourism Development Authority (TDA) will reportedly resume land tenders in August after a hiatus of over one-year, TDA boss Serag Saad El Din tells Al Mal. The TDA had been waiting for the government to release its land development map for the year before auctioning land off to investor for touristic development, he said. Tourism Minister Rania Al Mashat had announced in April that Egypt would be launching an ambitious tender program offering international investors the opportunity to develop sustainable cities in previously untapped locations along the Red Sea and Mediterranean coasts. Sustainable cities, like the New Alamein City that’s currently under development, are expected to help drive tourist traffic by adding to the number of places to visit in Egypt.

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