Akam AlRajhi Developments signs a Memorandum of Understanding (MoU) with IHG Hotels & Resorts to manage and operate Voco hotel, the first of its kind on the shore of the Mediterranean, at the Dose project in North Coast, Akam’s first project in Egypt, Invest-Gate reports.
Idris Mohamed, CEO of Akam AlRajhi Developments, signed the MoU, and Haitham Matar, CEO of IHG Hotels and Resorts in India, the Middle East, and Africa, which comes as part of the company’s keenness to select the best brands in the hospitality sector to meet customers’ standards.
The agreement witnessed the presence of Khaled Abdel Ghaffar, Minister of Health and Population, Ahmed Issa, Minister of Tourism and Antiquities, Zayed bin Abdullah Al-Asmari, Commercial Attaché at the Saudi Embassy, on behalf of the Ambassador of the Custodian of the Two Holy Mosques to the Arab Republic of Egypt, Ambassador Osama bin Ahmed Al-Nukli, and other senior Saudi businessmen.
Issa says that the agreement aims to promote the tourism sector, support the local, Arab, and foreign private sectors, and enable them to participate in this development by providing more facilities related to licensing and regulation.
Abdul Wahab Saleh Al-Rajhi, CEO and founding partner of Akam, comments, ‘’the signing is in line with the company’s vision in implementing a unique project in the North Coast region, leaving an imprint and attractive region for investments.”
It is noteworthy that Voco enjoys a privileged position and popularity among Middle East developer companies, as it provides an outstanding experience for guests.