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Egyptian Resorts Considers Switching Its Focus to Real Estate

Egyptian Resorts Co. is considering refocusing its business on real estate as the nation’s tourism industry struggles to recover from years of terror attacks and political upheaval.

A plan under discussion would see the company for the first time develop land beyond its Sahl Hasheesh project in the Red Sea resort of Hurghada, beginning next year with small, high-end residential projects, Chief Executive Officer Wael El Hatow said in an interview. Real estate could account for 80 percent of the firm’s business in three to four years, he said, about double the current figure

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