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Government to select consultant for Ras Gamila project, estimates for development rights at USD 2-3B

Reportedly, doors for bids could open within the next two months

What:

The Madbouly government is gearing up to choose a consultant for the ambitious Ras Gamila development project in Sharm El Sheikh. According to insider sources speaking to Enterprise, a ministerial committee has been established to oversee the selection process, tasked with the crucial responsibilities of managing, evaluating, and marketing the project.

So What:

The Ras Gamila project is not just another run-of-the-mill endeavor, with initial estimates pegging the development rights’ sale value at a staggering USD 2-3 billion. Industry watchers speculate that this figure could skyrocket further based on the consultant’s strategic vision to unlock Ras Gamila’s full potential.

Countdown:

The clock is ticking as the government gears up to throw open the doors for bids within the next two months. As anticipation builds, industry players are ready to showcase their expertise and innovative approaches to securing a slice of this lucrative opportunity.

Saudi BTS:

Whispers of negotiations between Egyptian and Saudi officials regarding Ras Gamila’s development rights have emerged. Situated comfortably close to Saudi Arabia’s Neom project, Ras Gamila’s strategic location could serve as a linchpin for future cross-border endeavors, including the proposed bridge linking Neom to Sinai.