Latest news with #AdelAl-Najjar
Zawya
17-03-2025
- Business
- Zawya
UAE's ADFD launches $120mln hotel project in Egypt
Arab Finance: The Abu Dhabi Fund for Development (ADFD) has launched the Sofitel Legend Pyramids Giza project as part of its plans to boost strategic investments in Egypt's tourism sector, according to WAM News Agency. With $120 million in investment, the luxury five-star hotel will feature 302 rooms provided with modern amenities, in addition to international restaurants and entertainment facilities. The project is financed via a strategic partnership between the private sector of the UAE and Egypt. ADFD, through Abu Dhabi Tourism Investment Co. (ADTIC), is contributing 84.28% of the project's capital. Meanwhile, Abu Dhabi National Hotels holds 10.22% of the project, Overseas Tourism Investment Company owns 0.4% equity, Misr Hotels Company owns 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%. Mohamed Saif Al Suwaidi, Director General of ADFD, commented: 'The Sofitel Legend Pyramids Giza project 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.' For his part, Adel Al-Najjar, the Governor of Giza, said: '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.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Dubai Eye
15-03-2025
- Business
- Dubai Eye
Abu Dhabi Fund for Development launches luxury hotel project in Egypt
The Abu Dhabi Fund for Development (ADFD) has announced the launch of the 'Sofitel Legend Pyramids Giza' project, a luxury five-star hotel intended to be a landmark addition to the hospitality and tourism sector in Egypt. Valued at AED 440 million ($120 million), the project will feature 302 rooms equipped with state-of-the-art amenities and a selection of international restaurants and entertainment facilities. The project is financed through a strategic partnership between the private sectors of the UAE and Egypt. ADFD is contributing 84.28 per cent of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC). Additionally, Abu Dhabi National Hotels owns 10.22 per cent, Overseas Tourism Investment Company holds 0.4 per cent, Misr Hotels Company owns 2.73 per cent, and the Egyptian General Company for Tourism & Hotels owns 2.37 per cent. The foundation was jointly laid by the Director General of ADFD, Mohamed Saif Al Suwaidi, and the Governor of Giza, Engineer Adel Al-Najjar, alongside more Egyptian and UAE officials. 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. 'Sofitel Legend Pyramids Giza' project 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," Al Suwaidi said.
Arabian Business
14-03-2025
- Business
- Arabian Business
Abu Dhabi Fund for Development launches $120mn luxury hotel project in Egypt
The Abu Dhabi Fund for Development (ADFD) announced the launch of a luxury hotel project in Egypt, envisaging investments to the tune of $120 million (AED 440 million). The 5-star hotel project, named 'Sofitel Legend Pyramids Giza', is part of the Abu Dhabi fund's efforts to enhance its strategic investments in the African country. Abu Dhabi Fund's Egypt luxury hotel project The hotel project is also aimed at contributing to the development of the hospitality and tourism sector in Egypt and the broader Middle East. The project, featuring 302 rooms equipped with state-of-the-art amenities and a selection of international restaurants and entertainment facilities, will be financed through a strategic partnership between the private sectors of the UAE and Egypt. While ADFD will contribute 84.28 per cent of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC), the remaining equity stake will be held by Abu Dhabi National Hotels (10.22 per cent) Overseas Tourism Investment Company (0.4 per cent), Misr Hotels Company (2.73 per cent) and the Egyptian General Company for Tourism & Hotels (2.37 per cent). Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards. Abu Dhabi Tourism Investment Company will partner with Accor Group, a globally renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience. Enhancing Egypt's tourism sector Mohamed Saif Al Suwaidi, Director General of ADFD, said through the partnership with Accor Group, the Fund aims to elevate the tourism industry, while supporting economic and social development in Egypt. 'This investment is a reflection of ADFD's commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries,' he said. Engineer Adel Al-Najjar, the Governor of Giza, said the project is a model for successful investment collaboration between Egypt and the UAE. 'We look forward to expanding such partnerships to further our sustainable development goals,' he said. By blending luxury hospitality with Egypt's rich cultural heritage, the Sofitel Legend Pyramids Giza project is expected to strengthen the country's position as a premier global tourist destination. Its strategic location near iconic landmarks will attract visitors from around the world, creating new investment opportunities and driving the sustainable growth of Egypt's tourism sector.
Gulf Business
14-03-2025
- Business
- Gulf Business
ADFD launches Dhs440m Sofitel Legend Pyramids Giza project in Egypt
Image: ADFD The Valued at Dhs440m ($120m), the project underscores the UAE's commitment to strengthening global economic partnerships and supporting sustainable development. The hotel will feature 302 rooms equipped with state-of-the-art amenities, alongside a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality in Egypt and the broader Middle East. Strategic investment and funding structure The project is financed through a strategic partnership between the private sectors of the UAE and Egypt. ADFD is contributing 84.28 per cent of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC). Other stakeholders include Abu Dhabi National Hotels (10.22 per cent), Overseas Tourism Investment Company (0.4 per cent), Misr Hotels Company (2.73 per cent), and the Egyptian General Company for Tourism & Hotels (2.37 per cent). The foundation was jointly laid by Mohamed Saif Al Suwaidi, director general of ADFD, and engineer Adel Al-Najjar, governor of Giza, in the presence of officials from both sides. 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. ADFD project to support Egypt's tourism sector Mohamed Saif Al Suwaidi stated: 'The 'Sofitel Legend Pyramids Giza' project 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 emphasised that the investment reflects ADFD's commitment to advancing sustainable development projects and fostering investment partnerships that drive economic growth in partner countries. Engineer Adel Al-Najjar expressed gratitude for ADFD's continued support: '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 highlighted the project as a model for successful investment collaboration between Egypt and the UAE, adding: 'We look forward to expanding such partnerships to further our sustainable development goals.' The project's strategic location near iconic landmarks is expected to attract visitors from around the world, creating new investment opportunities and driving sustainable growth in Egypt's tourism sector. Through investments in transformative infrastructure projects like this, the UAE reaffirms its commitment to supporting Egypt's national development agenda while advancing the United Nations Sustainable Development Goals (SDGs), particularly Goal 8 (Decent Work and Economic Growth) and Goal 9 (Industry, Innovation, and Infrastructure). Read:
Zawya
14-03-2025
- Business
- Zawya
ADFD launches AED 440mln Sofitel Legend Pyramids Giza project to boost Egypt's tourism sector
Abu Dhabi – As part of its efforts to support and revitalize Egypt's tourism sector and enhance strategic investments, the Abu Dhabi Fund for Development (ADFD) has announced the launch of the 'Sofitel Legend Pyramids Giza' project. This luxury five-star hotel will be a landmark addition to the hospitality and tourism sector in Egypt and the broader Middle East, reinforcing the UAE's commitment to advancing global economic partnerships and supporting sustainable development. Valued at AED 440 million (US$ 120 million), the project will feature 302 rooms equipped with state-of-the-art amenities. The hotel will also house a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality. The project is financed through a strategic partnership between the private sectors of the UAE and Egypt. 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%. The foundation was jointly laid by H.E Mohamed Saif Al Suwaidi, Director General of ADFD, Engineer Adel Al-Najjar, the Governor of Giza, from the Egyptian government, and 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. H.E Mohamed Saif Al Suwaidi, said: 'Sofitel Legend Pyramids Giza' project 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 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.' Engineer Adel Al-Najjar, expressed gratitude to ADFD for its continued support. '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 noted that this project is a model for successful investment collaboration between Egypt and the UAE. 'We look forward to expanding such partnerships to further our sustainable development goals,' he said. By blending luxury hospitality with Egypt's rich cultural heritage, the Sofitel Legend Pyramids Giza project will strengthen the country's position as a premier global tourist destination. Its strategic location near iconic landmarks will attract visitors from around the world, creating new investment opportunities and driving the sustainable growth of Egypt's tourism sector. Through investments in transformative infrastructure projects like this, the UAE reaffirms its commitment to supporting Egypt's national development agenda while advancing the United Nations Sustainable Development Goals (SDGs), particularly Goal 8 (Decent Work and Economic Growth) and Goal 9 (Industry, Innovation, and Infrastructure). Fatin Elkhalil Senior Account Manager APCO Podium 3, Unit C40-P3-39, YAS Creative HUB, YAS Island Abu Dhabi, United Arab Emirates (m) +971 55 5432671 felkhalil@
