Cairo – Mubasher: Sharm Dreams Company for Touristic Investment signed a contract to hand over the management of Sharm Dreams Resort to Jaz Hotel Group.

The ten-year, renewable contract includes a plan to develop Sharm Dreams Resort which is expected to register revenues of more than EGP 2 billion over the first ten years of operation, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Jaz Hotel Group, one of the major hotel management companies in the Middle East, operates more than 45 hotels in Egypt, Tunisia, and the UAE.