Al-Tameer Arabian for development and investment in real estate enters a contract with UAE FACIL International Group, Invest-Gate reports.

As a company specializing in international hotel management, the UAE FACIL Group will manage the Rivan Tower-project, the company’s most recent project in Downtown, New Administrative Capital (NAC). The Egyptian-Saudi partnership offers a new and different real estate product with international hospitality services.

The terms of the agreement between the two companies involve provision of hotel services and management for housing activities in the company’s projects in NAC, based on common experience and specialization of the Emirati Group, including rental of hotel units to project customers.

Ahmed Osama, head of the commercial sector at Al-Tameer Arabian for Development and Real Estate Investment, explains that the contract reflects the company’s openness regarding the delivery of real estate products with world-class specifications.

Osama states that Al-Tameer Arabian Company’s investments in the Egyptian market have increased by about 60%. It reaches EGP 5 bn in real estate projects, in addition to other investments in industry and agricultural sectors.

Julie Shields, CEO of the global Emirates FACIL group, expresses joy considering the agreement with Al-Tameer Alrabian, a collaboration on real estate development, which in a short time increased the company’s investments in the Egyptian market.

The Emirati FACIL group operates internationally with hotel chains, including the Hilton Group, Jumeirah, Redson, Fresh and Movenpick in the UAE.