Al Ashraaf Developments has signed a partnership agreement with InterContinental Hotels Group (IHG) to launch Holiday Inn Obour City, as part of an integrated mixed-use project being developed by the company over 65 feddans in the heart of Obour City. The agreement aligns with Al Ashraaf Group’s broader vision to enhance urban living standards and lifestyle developments in the city, Invest-Gate reports.

The agreement was signed by Eng. Ahmed Amin Massoud, Chairman and CEO of Al Ashraaf Developments, and Haitham Mattar, Managing Director for IHG Hotels & Resorts in India, the Middle East, and Africa, in the presence of MP Amin Massoud, Secretary of the Housing Committee in the Egyptian Parliament, along with senior executives from both companies.

The new property will be the first international hotel under the Holiday Inn brand in Obour City, marking a significant milestone in the strategic expansion of both Al Ashraaf Developments and IHG in the Egyptian market.

The project aims to introduce a world-class hospitality experience that meets the growing demand in Egypt’s new urban centers.

Commenting on the signing, Eng. Ahmed Amin Massoud, Chairman and CEO of Al Ashraaf Developments, said: “We are proud to launch the first international hotel in Obour City in partnership with one of the world’s leading hotel groups. This collaboration reflects international confidence in Egypt’s investment climate and supports our plans to transform Obour into a fully integrated destination that combines luxury living, hospitality, and tourism services.”

For his part, Haitham Mattar, Managing Director of IHG Hotels & Resorts for India, the Middle East, and Africa, expressed his delight with the collaboration, stating: “We are committed to expanding our presence in Egypt through carefully selected partnerships, such as the one with Al Ashraaf Developments, which plays a key role in our growth strategy. Holiday Inn Obour will strengthen our footprint in one of the country’s fastest-growing cities and deliver a contemporary hospitality experience that caters to both local and international guests.”

The new project is expected to add significant value to the tourism and hospitality sector across Greater Cairo, supporting the government’s vision to attract more investment into new cities and develop a fully integrated infrastructure in East Cairo.