Overseas Investment Property

Find us on Facebook  Find us on Twitter  Find us on LinkedIn


   
                                                               
Our Blog

New Hurghada to Luxor railway links to benefit tourists in Egypt

Posted 10.03.17
New Hurghada to Luxor railway links to benefit tourists in Egypt The second largest city in Egypt, Hurghada is set for a new railway line to connect to Luxor which will boost tourism Hesham Arafat said on Tuesday.

Hurghada, one of Egypts major hot spots for tourism will benefit from this decision as it will bring more tourist from Luxor to the Red Sea and it will give easier access for tourists in Hurghada to travel to Luxor for excursions.

Hesham Afrafat, Egypts minister of transport has said the nation will carryout of up to 14.4 billion Euros (Dh55.85bn) cost of investment in a new railway and metro venture.

Talking at Middle East Rail meeting on Tuesday, Hesham Arafat said the majority of the investment being looked for will be for three fast rail lines running from Luxor to Cairo, Alexandria to Cairo and from Luxor to Hurghada, which will have a joint cost of 13billion Euros.

'These three lines are proposed for promoting tourist activity that is expected to reach more than 30 million tourists per year by 2025,' Mr Arafat said.

The greatest of these is the Cairo to Luxor line - a 6bn Euros, 700-kilometre line that will take around five years to complete. Mr Arafat said, looking at costs, investors will receive 9% returns on their investment, which will benefit around 3.4 million travellers each year.

"You can fund it using any model, similar to BOT (build, work, transfer) or direct financing," he said.

The cost of the Hurghada to Luxor line amounts to 4bn Euros and will be 300km long, carrying 1.5 million travellers and will offer returns of 10% for investors, Arafat says. It will take four years to construct.

The Alexandria to Cairo line has an expected cost of 3bn Euros and will be 210km long, carrying up to 2.3 million travellers a year. Construction will take three years to build and will offer returns of 11%.

Other plans which seek investment add up to 934m Euros, 34km underground line in Cairo from Imbaba to the Airport, a 275m Euros super tram connecting cities in New Cairo to the underground line, an 82m Euros fright and passenger line from Damietta to Mansoura and an 85m Euros freight line linking Egypt's biggest phosphate mine at Abu Tartur to Safaga port.

What now..
Search for properties in Egypt
Read all top articles in Egypt





Featured properties


Located in Hurghada

Royal Beach Hurghada

£26,136

✔ Brand new built beach front apartment - Holiday home or investment

✔ Private beach - luxury pool and sea views

✔ Guaranteed rental income options available (Optional)

✔ Up to 5 year payment scheme from developer

✔ Very high standard of finishings

View details

Located in Hurghada

Florenza Khamsin

£19,500

✔ Ready and built - Holiday home or investment close to beach

✔ Receive keys now - 40% deposit and pay the rest over 5 years

✔ Amazing location

✔ Facilities on resort

✔ Available to use now

View details

Located in Hurghada

El Makramia

£19,000

✔ The best central location in Hurghada

✔ Unbeatable prices in regards to location in Hurghada

✔ Large pool and childrens pool

✔ Excellent for rentals due to location

✔ Brand new complex fully completed soon

View details

Located in Sharm el Sheikh

Jasmine residence

£14,515

✔ Located in the heart of Naama bay, Sharm el Sheikh

✔ 50% deposits & pay the rest over 2 years

✔ Situated on a high elevation with great open sea view

✔ Sea view available (Optional)

✔ Receive keys 2017

View details



Investors Corner
As Featured In