Thats a whole lot of Egyptian Pounds...
1 Comments Published by Tom Gara on Wednesday, December 6 at Wednesday, December 06, 2006.
"DUBAI - Damac Holding Group of the United Arab Emirates said on Tuesday it
would start work next year on a 60 billion dirham ($16.3 billion) residential
and tourism project on Egypt’s Red Sea coast." (Khaleej Times)
$16.3 billion dollars gets you about 94.25 billion Egyptian pounds, or 1/20th of Egypt's entire GDP.
These Gulfies really know how to throw their money around - hopefully they hire some decent architects. It would be horrible to see what happened to Egypt's much more beautiful North Coast - with Mediterannean water as gorgeous as you can imagine scarred by thousands and thousands of identical, ugly-as-hell concrete monstrosities, happen to this so far undeveloped area of the Red Sea coast.
Excercise taste and refinement, Gulfies! I guess that is like asking George Bush to take foreign policy advice from the French, but one can always wish....
Maybe we should get in on some Gulfie action. I wouldn't mind a few million dollars to "advise" on western tourism on the Red Sea. Look into it Tom!