Latest news with #CairoHouseEgypt
Egypt Today
05-02-2025
- Business
- Egypt Today
Cairo House Egypt consortium partners with Marriott to develop Tahrir Complex into luxury hotel
Cairo – February 5, 2025: On Tuesday, Cairo House Egypt revealed that it has entered into a groundbreaking agreement with Tourism Investment S.A.E and Marriott International to transform the historic Tahrir Complex (Mogamma El-Tahrir) in downtown Cairo into a luxurious Autograph Collection Hotel, playing a key role in revitalizing the downtown area. The transformation of the Tahrir Complex is a key element in The Sovereign Fund of Egypt's (TSFE) broader initiative to breathe new life into downtown Cairo. According to a statement from Cairo House Egypt, the project is expected to act as both an 'anchor and catalyst' for future investments, positioning the district as a prime location for global business, tourism, and cultural activities. The Tahrir Complex has been a prominent government hub since its construction in 1951, serving millions of Egyptians over the decades who came to the building to conduct official business. Following a decree by President Abdel Fattah El-Sisi in September 2020, the complex was removed from its public service role, and ownership was transferred to TSFE for redevelopment into a commercial and tourism-focused space. In August 2022, the CairoHouse LLC development consortium, which includes four major partners — Global Ventures Group, Oxford Capital Group, Al Otaiba Investments, and Zoser Capital Partners — secured the rights to develop the building with an estimated investment of over $200 million. The new hotel is set to include 500 high-end guestrooms and serviced apartments, all designed to cater to both business and leisure travelers. Situated in the heart of Cairo, surrounded by embassies, government offices, and financial institutions, the hotel's location offers accessibility to key landmarks and business districts. Although the exact timeline for the completion of the project has not been disclosed, the development of the Tahrir Complex into a luxury hotel is expected to have a lasting impact on the local economy. The initiative aligns with Egypt's ongoing efforts to enhance its tourism infrastructure and attract greater foreign investment.
Al-Ahram Weekly
04-02-2025
- Business
- Al-Ahram Weekly
Cairo House trusts Autograph Collection to repurpose landmark Tahrir Complex into luxury hotel - Economy
Cairo House Egypt for Real Estate, Tourism Investment S.A.E., and Marriott International signed an agreement on Tuesday to trust the renowned Autograph Collection Hotels with converting the historic Tahrir Complex (Mogamma El-Tahrir) in Downtown Cairo into a world-class luxury hotel and operate it. Bringing an Autograph Collection Hotel, a distinguished portfolio of independent upper-upscale luxury hotels under the Marriott International umbrella, to the heart of downtown Cairo aligns with the Sovereign Fund of Egypt's (TSFE) broader vision for revitalizing the area and boosting tourism. Autograph Collection features over 300 unique hotels worldwide, each reflecting the individual vision of its founder and offering immersive, memorable experiences. Tahrir Complex, a mammoth edifice that has housed government administrations in the heart of Downtown Cairo since its construction in 1951, is known to millions of Egyptians who sought it to issue and notarize public documentation for decades as Mogamma Al Tahrir. The transformation of the Tahrir Complex follows a decree issued by President Abdel-Fattah El-Sisi in September 2020, which removed its public benefit status and transferred ownership to TSFE for redevelopment. In August 2022, the US CairoHouse LLC development consortium landed the deal to develop and rehabilitate the iconic building with over $200 million in investments. The Cairo House LLC, led by four sponsors: Global Ventures Group, Oxford Capital Group, Al Otaiba Investments, and Zoser Capital Partners, owns Cairo House Egypt for Real Estate and Tourism Investment S.A.E. 'We are honoured to work with Marriott International to bring an Autograph Collection hotel to the Mogamma Al Tahrir building. We value the Marriott alliance, the strong support of the Sovereign Fund of Egypt, and the substantial efforts by the numerous team members that are bringing this project to life," said Randall Langer, Chairman of Global Ventures Group, during the signing ceremony. Tahrir Complex: A Luxury Hotel! The repurposed Autograph Collection Hotel would comprise 500 guestrooms, serviced apartments, and multiple dining and entertainment options. The new hotel is also anticipated to feature a rooftop swimming pool overlooking the recently redeveloped Tahrir Square with a view of the Nile Corniche and the Pyramids of Giza on the horizon. Other plans for the property include expansive meeting and event space, including a ballroom and unique outdoor pavilion, as well as a fitness centre and spa. The hotel will be within walking distance of embassies in Garden City and major financial and business institutions in the downtown area. John Rutledge, CEO of Oxford Capital Group, stated: 'We are excited to have achieved this important milestone with our longtime friends and professional collaborators at Marriott International and look forward to advancing this iconic project in the historic city of Cairo.' Echoing this sentiment, Shady Hassan, Vice President, Development—North Africa, Marriott International, added during the event: "We have had a long-standing presence in Egypt, and we remain committed to further enhancing our portfolio in the country and supporting the growth of its tourism sector." He added that the Autograph Collection features curated properties that celebrate individuality. "We look forward to working with the Consortium and the Sovereign Fund of Egypt to bring the brand's distinct perspective on design and hospitality to the city," added Hassan. Short link:
