Egypt’s Sunrise Resorts to develop hotels in 2024

The company will self-finance 70% of these investments

Staff Writer, Arab Finance

November 22, 2023

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Sunrise Resorts and Cruises intends to build two hotels in the cities of Marsa Alam and Sharm El Sheikh on the Red Sea in 2024, with EGP 1.5 billion in investments, Chairman Hossam El-Shaer told Asharq Business on November 21st.

The company will self-finance 70% of these investments, while the remaining portion will be financed through bank loans, El-Shaer highlighted.

Marsa Alam hotel will see investments of EGP 700 million and have a capacity of 250 rooms, while the remaining sum of EGP 800 million will be injected into the Sharm El-Sheikh hotel that will feature 300 rooms, he added.

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