Leading hospitality group Accor Hotels partners with Egypt’s prominent real estate company Arabia Group to establish the new Residence Fairmont Pyramids Hotel in 6th of October, Invest-Gate reports.
The management contract also includes a partnership with the Ministry of Housing which will help run the hotel, according to a released statement.
Residence Fairmont Pyramids, a 20-storey hotel, will be built in one of the major hospitality destinations in El Shams City, a new development spreading over an area of 139 feddans near the pyramids.
“The partnership will positively contribute to developing El Shams City into not only a residential project but rather into the first touristic capital in Egypt that will soon be one of the country’s major destinations,” says Minister of Housing Mostafa Madbouly.
The hotel, which is expected to open in 2022, features 250 rooms and 200 apartments overlooking Giza pyramids. It is also in close proximity to the Grand Egyptian Museum, Giza and 15 minutes away from the new Sphinx International airport.
New El Shams City is expected to contain one of the largest commercial areas in Egypt spanning an area of 570,000 square meters. The city will include the first outlet mall in Africa, an international medical center, schools, and universities.
The city also includes apartments, villas, entertainments areas, cultural sites, towers, and offices.
“We plan to develop luxurious hotels in the region and manage them under our several brands, including seven hotels such as Fairmont and Sofitel that will all be opened within the coming five years,” says Accor Hotels CEO in MENA Samy Nasser.
Accor Hotels is currently managing 20 hotels across the country, including 12 hotels that are still under construction and include an overall 10,800 rooms. The company is managing hotels including Sofitel, Fairmont Nile City, Novotel Marsa Allam, and EBIS Styles Dahab.
The leading hospitality group will also open future hotels in Sharm El Sheikh, including Swiss Hotel and Raffles Hotel.