Orascom plans Kamarn resort

21 October 2005
Cairo-based real estate development company Orascom Hotels & Development (OHD), part of the Orascom Group, is in advanced negotiations with Sanaa to establish and develop a major tourist resort on the 130,000-square-metre Kamarn island and free zone. The masterplan for the scheme has been approved by President Saleh and OHD is in the process of establishing a project company with the local Hayel Saeed Group. Construction work is not expected to begin before 2007. Yemen is working on developing its tourist potential as a means of economic diversification and has also announced plans for resorts in Mocha and Socotra. OHD has been spreading its wings recently. The company is also developing hotels and resorts in Jordan, Oman and Ras al-Khaimah (MEED 23:5:05).


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