The resort will have 136 rooms, residential villas, a polo academy, a polo club and a riding school.
The company did not disclose the value of the deal or the exact size of the stake it purchased.
Tourism accounts for 11.3 per cent of Egypt’s economy and 19.3 per cent of its foreign currency revenues.
The Emirates was the top destination for Muslim tourists in the Middle East, which had five countries among the top 10 in the global list.
New visa exemptions and more routes from Emirates helped the country become a popular incentive destination.
The emirate’s 2014/2015 cruise season has 94 confirmed vessel calls, up from 75 in the previous season.
The rainforest, to be created within a dome, will be located in Damac’s Akoya Oxygen project.
The new projects will be developed by the Wasl Asset Management Group across Dubai.
The group plans to open 20 hotels by 2018, its chief executive said.
The hotel will have close to 300 rooms and is slated for completion in 2017.
Work on the project is slated to be completed by 2018, officials said.
The weekend Abra service will run from Souk Qaryat Al Beri to Eastern Mangroves, with stops at three five-star hotels.
The desert resort ranked eighth among the world’s top 25 hotels as decided by TripAdvisor’s annual Travellers’ Choice awards.
The company’s Dhs500 million hotel project on Palm Jumeirah is set to open in Q4 2016.
The company said that work on the steel structure, in which the animation zone is located, has started.
Developed by Emaar Hospitality and Meraas, the brand targets young tech-savvy travellers.
The hotel will have 155 standard king rooms, 56 twin rooms and eight Burj View suites, decorated in an Arabian cultural style.
Design-led hotel targets business and leisure guests as more five-star supply beckons
It did not give the details of the previous loan but said it was signed with six banks in June 2012.
Banana Island Resort Doha is the group’s first property in Qatar.
Average occupancy fell by 0.3 per cent in October compared to the same period last year, a new survey showed.
The move will boost the GCC’s tourism industry, helping sectors such as aviation and hospitality.
As per the deal, a number of Holiday Inn & Suites branded hotels will be developed across the Kingdom over the next five years, IHG said in a statement.
The museum, anticipated to be ready by December 2015, will encompass 9,200 square metres of art galleries.
Wasl Asset Management plans to open four three-star hotels in the emirate next year.
The company building Dubai’s mega theme park complex saw its share prices fall nine per cent on Wednesday.
If enforced, it will become illegal to consume and trade alcohol across the sultanate.
Dur Hospitality has been expanding across Saudi Arabia as the local economy picks up pace.
Marriott International will operate an 80-unit hotel and a 140-unit executive apartment complex in the diplomatic quarter in Riyadh.
Waldorf Astoria Palm Jumeirah reveals the details of its royal suite, the largest in Dubai.