Alkan Holdings Group is set to finalize Citadel Plaza, a five-star hotel, within five years at a cost of $600 million, reported Amwal Elghad.
The hotel will be located in Moqattam, and consists of 320 rooms, conference halls, and exhibition center.
The company recently completed the administrative building within the project, according to Chairman Khaled Nosseir, and will commence construction in the commercial area and the hotel.
The project also includes a culture center and modern administrative offices, according to Nosseir, who added that the project will provide 15,000 job opportunities throughout the construction period.
A shopping mall, restaurants, children’s area, and sports and health resort will also be added in the project, alongside a parking lot that will accommodate 7,000 cars, stated Daily News Egypt.
The group seeks to expand and add more investments within the automotive sector as part of its growth strategy. It previously invested EGP 250 million in the sector over the past four years.