The Tourism Development Authority (TDA) will offer bid requirement pamphlets for the development of Ras Sidr airport and a tourist community in mid-March, in cooperation with the Egyptian Airports Company (EAC).
CEO of TDA, Serag El Din Saad, told Daily News Egypt that the authority, in collaboration with EAC, invited companies that are interested to apply for the project. It will be established on 34m sqm, in addition to the development of 6m sqm of the surroundings land for tourism development purposes.
Saad said that the consultative engineering office of the project, EHAF Consulting Engineers, preferred to announce the project before offering the bid requirements in order to asses the extent of investors’ aspirations for the project.
Saad predicted that investors will apply for the project as a result of the strong opportunities offered by the TDA, which is the land allocated to establish a tourist project to feed the airport.
He said that offering land next to the airport reassures investors about the existence of a plan to raise the quality of tourism services and occupancy in the region.
Egypt’s President Abdel Fattah Al-Sisi has issued a decree to allocate 4,711 acres affiliated to the TDA to the EAC for the establishment of the Ras Sidr airport.
The EAC has called on the cabinet to increase the allocated area for the establishment of the airport.
Saad said that the TDA achieved revenue of EGP 555m until the end of January.
He added that the achieved revenue during the first seven months of the current fiscal year represents 79% of the targeted revenue of EGP 700m.
Saad explained that 65% of the authority’s revenue came from its dues from previous dealings, while 35% came from the authority’s new tenders in the current fiscal year.
The TDA has approved 36 new projects on an area of 16.5m sqm during the current fiscal year.