EgyptAir to boost weekly flights between Cairo and Istanbul

EgyptAir will begin flying between Cairo and Istanbul three times a day from July 2, 2021. (Shutterstock/File Photo)
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Updated 30 June 2021
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EgyptAir to boost weekly flights between Cairo and Istanbul

  • The airline said in a statement it will operate 21 direct flights between the two cities each week using an Airbus A320 Neo aircraft

CAIRO: EgyptAir will begin flying between Cairo and Istanbul three times a day from July 2, 2021.

The airline said in a statement it will operate 21 direct flights between the two cities each week using an Airbus A320 Neo aircraft with 16 seats in business class and 126 seats in economy class.

Egyptian Foreign Minister Sameh Shoukry said a few days ago that there is still no date for the resumption of exploratory talks with Turkey over the restoration of ties between the two countries.

Last March, Ankara began steps to restore relations with Egypt, and in May a Turkish delegation headed by Deputy Foreign Minister Sedat Onal made the first visit of its kind since 2013 to hold talks with Egyptian officials, including Deputy Foreign Minister Hamdi Sanad Loza.

The increased connection is part of Egypt’s plan to revive its tourism sector after the economic impact of the COVID-19 pandemic. Officials have forecast that tourism will generate $6 billion in 2021/2022.

This week, Egypt outlined a draft media strategy designed to help boost tourism in the country. Khaled El-Anany, the minister of tourism and antiquities, said on Tuesday the strategy is a prelude to the launch of a three-year international promotional campaign for Egyptian tourism, starting at the end of 2021.

Saudi Arabia sent the highest number of tourists to Egypt in June, followed by Kuwait, the UAE, Jordan and Iraq.

El-Anany added that many tourism companies and hotels are seeking to increase their capacity rates to 70 percent.


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

Updated 10 March 2026
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Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.