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The Armed Forces okayed building Egypt's first service project next to GEM

Wednesday 25 July 2018 04:30 PM

Sheif Bendary
Sheif Bendary

By Ahmed Ashour  
The Egyptian General Co. For Tourism & Hotels ( Egoth) is poised to set up Egypt's first service project adjacent to the Grand Egyptian Museum after it managed to get necessary approvals from the Armed Forces.
" The project will be made up of a parking lot and supermarkets  so as to serve visitors of GEM,"  chairman of Egoth Sherif Bendary told Al-Mal newspaper, adding that the Armed forces will also take charge of constructions inside the project through picking a construction company.
While abstaining from vying for managing services due to be created in the vicinity of GEM in line with a world tender that has been publicized several weeks ago, Egoth will only concentrate on utilizing its own lands and prepare final designs, he added.
Two years ago, Egoth signed a collaboration protocol with Ministry of Antiquities to build the project which generates, according to a press release published at the time, up to EGP362mln return in the span of 10 years.   
Egoth opts at the time being to tap a portfolio of its own lands through partnering with the privately-owned companies before  expanding into new enterprises, he continued.
Both ministries of Investments and Antiquities has invited investors  back in June to manage and operate GEM's services due to take place over large swathes of lands with plans for building a conference center with a 1000-person capacity and a modern movie theater.
The tender included also building restaurants overlooking the Great Pyramids, an open area housing restaurants and cafes, malls, libraries, a center for teaching crafts and conventional arts, a multi-purposed building, large parks, and areas for hosting artistic, cultural and entertainment events.