ADFD starts work on 320-key luxury hospitality project in Egypt
A luxury five-star hotel, it will feature 302 rooms equipped with state-of-the-art amenities. The property will also house a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality.
The project is being financed through a strategic partnership between the private sectors of the UAE and Egypt, said the statement from ADFD.
ADFD is contributing 84.28% of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC). Additionally, Abu Dhabi National Hotels owns 10.22%, Overseas Tourism Investment Company holds 0.4%, Misr Hotels Company owns 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%.
It will be a landmark addition to the hospitality and tourism sector in Egypt and the broader Middle East, thus reinforcing the UAE's commitment to advancing global economic partnerships and supporting sustainable development, it stated.
This comes as part of its efforts to support and revitalise Egypt's tourism sector and enhance strategic investments, it added.
The foundation was jointly laid by Mohamed Saif Al Suwaidi, Director General of ADFD, and Engineer Adel Al-Najjar, the Governor of Giza, from the Egyptian government, in the presence of officials from both sides.
Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards. Abu Dhabi Tourism Investment Company is partnering with Accor Group, a globally renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience.
On the deal, Al Suwaidi said: Sofitel Legend Pyramids Giza is a significant step in strengthening Egypt's tourism sector, offering a world-class hotel experience that underscores our commitment to sustainable investments in promising markets."
"Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt," he stated.
Al Suwaidi called this investment a reflection of ADFD's commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries.
Lauding the ADFD support, Al Najjar said: "We appreciate Abu Dhabi Fund for Development's commitment to supporting Egypt's development projects, particularly in key economic sectors like tourism."
"The Sofitel Legend Pyramids Giza project represents a transformative step in strengthening our tourism infrastructure, enabling us to attract visitors from around the world thanks to its strategic location near Egypt's most iconic archaeological sites," he added. -TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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