Saudi Arabia’s Crown Prince Mohammed Bin Salman (MBS) is extending his vision beyond the borders of the Kingdom. In a move that could reshape the Red Sea tourism landscape, Saudi Arabia has offered to buy Ras Ghamila, a popular Egyptian vacation spot.
Neom + Egypt? Ambitious!
The ambitious plan comes on the heels of the announcement of the futuristic megacity Neom. A $1.5 trillion project within Saudi Arabia. Ras Ghamila, with its pristine beauty and proximity to Sharm el-Sheikh and the Tiran and Sanafir Islands, is seen as a strategic acquisition to bolster tourism in the region.
Saudi officials have proposed using their $10.3 billion in deposits at the Egyptian Central Bank to finance the purchase. This move would provide Egypt with immediate access to foreign currency. And is reportedly being favorably considered by the Egyptian government.
Also read: Saudi Arabia’s $1.5 Trillion Neom City To Have A Royal Palace For Crown Prince MBS
The acquisition of Ras Ghamila aligns with MBS’s vision to transform Saudi Arabia into a global tourism powerhouse. Neom, with its groundbreaking projects like The Line, a linear smart city, and luxurious destinations like Sindalah Island and Trojena, aims to redefine travel experiences.
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