Reported 14 days ago
Egypt’s North Coast, traditionally a retreat for the wealthy, is experiencing a rapid transformation fueled by significant investments from Gulf nations, notably around $59 billion since 2021. With ongoing projects aimed at enhancing tourism and real estate, the area aims to attract 30 million tourists annually by 2030. However, concerns over financial sovereignty, potential forced evictions, and environmental impacts accompany this boom, as property prices continue to rise rapidly amidst a changing economic landscape.
Source: YAHOO