Saudi Arabia’s Prince Alwaleed bin Talal plans to invest approximately $800m in Egypt’s hospitality sector, according to new agency Associated Foreign Press (AFP).

The planned investment will entail the development of hotels in several locations, including in Sharm el-Sheikh and in the town of El-Alamein on the Mediterranean coast and in Madinaty located east of capital Cairo.

The investment would include expanding the Four Seasons Resort in Sharm el-Sheikh in the southern Sinai region and transforming it into the biggest hotel resort in the world.

Egypt’s tourism sector has struggled to recover since the 2011 revolution and series of aviation incidents since mid-2015.

A Russian airliner crashed shortly after taking off from Sharm el-Sheikh airport in October 2015. On 19 May 2016, an Egyptair flight from Paris crashed in the Mediterranean Sea shortly after entering the Egyptian air space killing all 66 on board.