It seems that Saudi Arabia is looking to purchase the Egyptian Red Sea resort of Ras Ghamila from Egypt.
Middle East Eye reported on the latest news. The resort island is in the Straits of Teran, on the border between Egypt and Saudi Arabia.
Lying between the Egyptian resort of Sharm El Sheikh and Neom in Saudi Arabia, the island’s development would boost tourism in both areas.
The purchase comes as the Egyptian government is selling assets to allied nations due to the country’s severe currency and funding crisis.
