22 April 2008
MARSA ALAM: Stretching on the southern coast of the Red Sea, specifically in the Egyptian city of Marsa Alam, the multi-billion project of Port Ghalib is expected to be the first of its kind and one of the largest of Al-Kharafi Group's investments in Egypt. Aiming at establishing a new tourist spot in the region, Al-Kharafi Group led by business entrepreneur Nasser Al-Kharafi, has developed a long-term investment plan for Port Ghalib. Al-Kharafi Group owns a 28 million meters stretch on the coastal city of Marsa Alam, 20 percent of which is already up and running with a total cost of $1.2 billion.
An integrated infrastructure has been set up here (Marsa Alam), with a long-term vision of building an integrated city and not just a touristic resort," stated Eng Ibrahim Saleh, the deputy director of Al-Kharafi Group for Industrial Projects in Egypt and Investment Projects in Marsa Alam. Saleh added, "The project will be completed by 2014 and the total cost is estimated at $5 billion.
The idea of investing in Marsa Alam was initiated in the late 1990s and the implementation started by building the Marsa Alam International Airport on B.O.T. basis (40 years), and the International Port Ghalib. The project currently includes a yachts marina with a capacity of 500 yachts that will be increased by another 500 in the second phase of the marina project. Moreover, four hotels with a capacity of 3,000 guests including a 6-star hotel, are already receiving guests.
Infrastructure
Building a complete infrastructure for Port Ghalib was the first phase of the project which included building an international airport with an annual capacity of 1 million passengers. "Starting from July, there will be two direct flights weekly from Kuwait to Marsa Alam on Egypt Air, and we are still in negotiations with Jazeera and Kuwait Airways," explained Saleh.
The second phase of the project was building electricity and water plants with a two kilometers underground tunnel supplying Port Ghalib. All infrastructure projects at Port Ghalib were developed by Emak for Utility and services, one of Al-Kharafi's Group of Companies.
Mamdouh Ebada, GM of Technical Affairs and Engineering at Emak stated, "these plants (electricity and water) here at Port Ghalib are ready for the project's future expansions and currently provides 8.5 million meters of Port Ghalib with electricity and water." He further added "these plants are capable of providing the 28 million meters of the project, which will be completed in the upcoming years.
Integrated city
Since the birth of the Port Ghalib idea, Al-Kharafi Group created a master plan for every meter incorporated in the 28 million meters project. Nevertheless, investment opportunities in Port Ghalib are open for any potential investor. "Any investor can buy a piece of land here and establish his own infrastructure given that he's permitted by Al-Kharafi Group and the Egyptian Tourism authority, in addition to following the project's master plan founded by Al-Kharafi," elaborated Saleh.
He adds, "the master plan is used to prevent previous problems that occurred in other cities like Sharm El Sheikh where investors build randomly there." An Egyptian company has already bought 1.3 million meters of the Port Ghalib project, which will be transformed into a resorts compound.
Port Ghalib project currently entered its third phase through establishing various resorts and hotels, four of which were launched in 2008. "We (Al-Kharafi Group) are currently setting up a university here at Marsa Alam and a sports city planned to be an Olympic city in the near future that will be able to host international tournaments in various sports including Squash, Tennis, Swimming and Horse Racing," he stated.
As an inauguration for the first three phases of the project, Port Ghalib recently organized the F2 Powerboat Continental Cup which was attended by several prominent guests including Egyptian Minister of Tourism, Zoheir Garana. Three concerts were also organized by Port Ghalib, performed by Lebanese star Nancy Ajram and Egyptian stars May Kassab and Haytham Shaker, as part of the inauguration.
In the near future Port Ghalib will also provide tourists with the opportunity of exploring the ancient Egyptian history without the need to leave Marsa Alam. Saleh illuminated "in a three years time, Port Ghalib will have its own museum that will be launched in cooperation with the (Egyptian) Ministry of Culture and run by the Egyptian Archeological Authority, providing the opportunity for all tourists in the Red Sea to learn about the Egyptian history without the need to go to Luxor, Aswan or Cairo.
Moreover, Al-Kharafi Group is currently in negotiations with the Egyptian Government regarding several other giant projects in Marsa Alam, including a 240-kilometers railway connecting Luxor and Marsa Alam. "Such a step will make it easier for tourists to visit other touristic cities in Egypt, in addition for the railway being an easier means of transportation for the laborers in Marsa Alam," said Saleh. The railway project will be ready in five years.
Regional investments
In a two years time, Al-Kharafi Group's total investments in Egypt will reach up to $6 billion. In addition to Port Ghalib the Group currently owns seven industrial entities in Egypt, and is considered one of the biggest investors in the country. "The main aspect of Al-Kharafi's investments in Egypt is the industrial followed by the tourism aspect with a long-term plan, and 100 percent funding by Al-Kharafi Group," Saleh clarified. In addition to Egypt, Al-Kharafi Group has succeeded in establishing prominent investment projects in more than 15 Middle Eastern countries with a cost that exceeds $20 billion.
Saleh explains, "Despite the fact that Arab countries might disagree on political issues, Al-Kharafi Group believes in economic unity between Arab countries and that is why the group has established a Kuwaiti-Egyptian Holding Company, Kuwaiti-Lebanese Holding Company, Kuwaiti-Jordan Holding Company, Kuwaiti-Syrian Holding Company and a Sudanes-Egyptian Holding Company to promote economic unity amongst Arabs.
MARSA ALAM: Stretching on the southern coast of the Red Sea, specifically in the Egyptian city of Marsa Alam, the multi-billion project of Port Ghalib is expected to be the first of its kind and one of the largest of Al-Kharafi Group's investments in Egypt. Aiming at establishing a new tourist spot in the region, Al-Kharafi Group led by business entrepreneur Nasser Al-Kharafi, has developed a long-term investment plan for Port Ghalib. Al-Kharafi Group owns a 28 million meters stretch on the coastal city of Marsa Alam, 20 percent of which is already up and running with a total cost of $1.2 billion.
An integrated infrastructure has been set up here (Marsa Alam), with a long-term vision of building an integrated city and not just a touristic resort," stated Eng Ibrahim Saleh, the deputy director of Al-Kharafi Group for Industrial Projects in Egypt and Investment Projects in Marsa Alam. Saleh added, "The project will be completed by 2014 and the total cost is estimated at $5 billion.
The idea of investing in Marsa Alam was initiated in the late 1990s and the implementation started by building the Marsa Alam International Airport on B.O.T. basis (40 years), and the International Port Ghalib. The project currently includes a yachts marina with a capacity of 500 yachts that will be increased by another 500 in the second phase of the marina project. Moreover, four hotels with a capacity of 3,000 guests including a 6-star hotel, are already receiving guests.
Infrastructure
Building a complete infrastructure for Port Ghalib was the first phase of the project which included building an international airport with an annual capacity of 1 million passengers. "Starting from July, there will be two direct flights weekly from Kuwait to Marsa Alam on Egypt Air, and we are still in negotiations with Jazeera and Kuwait Airways," explained Saleh.
The second phase of the project was building electricity and water plants with a two kilometers underground tunnel supplying Port Ghalib. All infrastructure projects at Port Ghalib were developed by Emak for Utility and services, one of Al-Kharafi's Group of Companies.
Mamdouh Ebada, GM of Technical Affairs and Engineering at Emak stated, "these plants (electricity and water) here at Port Ghalib are ready for the project's future expansions and currently provides 8.5 million meters of Port Ghalib with electricity and water." He further added "these plants are capable of providing the 28 million meters of the project, which will be completed in the upcoming years.
Integrated city
Since the birth of the Port Ghalib idea, Al-Kharafi Group created a master plan for every meter incorporated in the 28 million meters project. Nevertheless, investment opportunities in Port Ghalib are open for any potential investor. "Any investor can buy a piece of land here and establish his own infrastructure given that he's permitted by Al-Kharafi Group and the Egyptian Tourism authority, in addition to following the project's master plan founded by Al-Kharafi," elaborated Saleh.
He adds, "the master plan is used to prevent previous problems that occurred in other cities like Sharm El Sheikh where investors build randomly there." An Egyptian company has already bought 1.3 million meters of the Port Ghalib project, which will be transformed into a resorts compound.
Port Ghalib project currently entered its third phase through establishing various resorts and hotels, four of which were launched in 2008. "We (Al-Kharafi Group) are currently setting up a university here at Marsa Alam and a sports city planned to be an Olympic city in the near future that will be able to host international tournaments in various sports including Squash, Tennis, Swimming and Horse Racing," he stated.
As an inauguration for the first three phases of the project, Port Ghalib recently organized the F2 Powerboat Continental Cup which was attended by several prominent guests including Egyptian Minister of Tourism, Zoheir Garana. Three concerts were also organized by Port Ghalib, performed by Lebanese star Nancy Ajram and Egyptian stars May Kassab and Haytham Shaker, as part of the inauguration.
In the near future Port Ghalib will also provide tourists with the opportunity of exploring the ancient Egyptian history without the need to leave Marsa Alam. Saleh illuminated "in a three years time, Port Ghalib will have its own museum that will be launched in cooperation with the (Egyptian) Ministry of Culture and run by the Egyptian Archeological Authority, providing the opportunity for all tourists in the Red Sea to learn about the Egyptian history without the need to go to Luxor, Aswan or Cairo.
Moreover, Al-Kharafi Group is currently in negotiations with the Egyptian Government regarding several other giant projects in Marsa Alam, including a 240-kilometers railway connecting Luxor and Marsa Alam. "Such a step will make it easier for tourists to visit other touristic cities in Egypt, in addition for the railway being an easier means of transportation for the laborers in Marsa Alam," said Saleh. The railway project will be ready in five years.
Regional investments
In a two years time, Al-Kharafi Group's total investments in Egypt will reach up to $6 billion. In addition to Port Ghalib the Group currently owns seven industrial entities in Egypt, and is considered one of the biggest investors in the country. "The main aspect of Al-Kharafi's investments in Egypt is the industrial followed by the tourism aspect with a long-term plan, and 100 percent funding by Al-Kharafi Group," Saleh clarified. In addition to Egypt, Al-Kharafi Group has succeeded in establishing prominent investment projects in more than 15 Middle Eastern countries with a cost that exceeds $20 billion.
Saleh explains, "Despite the fact that Arab countries might disagree on political issues, Al-Kharafi Group believes in economic unity between Arab countries and that is why the group has established a Kuwaiti-Egyptian Holding Company, Kuwaiti-Lebanese Holding Company, Kuwaiti-Jordan Holding Company, Kuwaiti-Syrian Holding Company and a Sudanes-Egyptian Holding Company to promote economic unity amongst Arabs.
By Eman Goma
© Kuwait Times 2008
