Saudi businessman Prince Alwaleed bin Talal and Egyptian businessman Hisham Talaat Mostafa, inspected the site of the Four Seasons Resort expansion project in Sharm al-Sheikh on Friday. The venture will add on 800 rooms at a total cost of $380 million (LE7billion).
The current Four Seasons Resort which was inaugurated in 2002. The extension to the hotel is a partnership between the Kingdom Holding Company and Talaat Moustafa Group.
Upon the completion of the expansion project next year, Four Seasons Resort Sharm El Sheikh will be the world’s largest Four Seasons resort, with 1400 rooms total. The project is expected to positively affect tourism flow to the city.
More development projects by Talaat Moustafa Group, in cooperation with Four Seasons in Madinaty, are in the works for east Cairo, and the north west coast of Alamein.
Projects jointly implemented by Talaat Moustafa Group and the Four Seasons include hotels such as the Four Seasons Nile Plaza in Cairo and Four Seasons Alexandria.
Edited translation from Al-Masry Al-Youm