Al-Borouj Misr signs a contract with the international company, Accor Group, to manage the Mövenpick Hotel in the Sixty Iconic Tower, the first private five-star hotel in the New Administrative Capital (NAC), Invest-Gate reports.

The Sixty Iconic Tower is a mixed- use project that contains a hotel, commercial and administrative units and was launched back in April, facing the Central Business District (CBD). The project extends over ​​13,000 sqm and has a height of 45 floors, with EGP 3 bn of investments. It also includes five underground parking floors. It will be built on 60% of the land, and the sales area will reach more than 55,000 sqm.

During the press conference held to announce this alliance, Mohamed Al-Aassi, vice chairman of Al-Burouj Misr, highlights that Mövenpick hotel has a capacity of 190 keys in the last ten floors of the Sixty Iconic Tower. In addition, Mövenpick will manage the sold hotel units in the project.

He further discloses that the company has sold about 75% of the project units, with a sales value of about EGP 2 bn since it was put on the market over seven months ago.

He adds that the company has provided an area of ​​800 m from the tower entrance to provide reception, restaurants, shops and hotel services. This entrance is separated from the administrative and commercial entrances and exits of the project. Additionally, the company has allocated the mezzanine floor for hotel services, including a health club, spa, Jacuzzi, a sauna, four restaurants and an outdoor swimming pool that has a direct view of the iconic tower.

In addition, he clarifies that the company has obtained the Ministry of Tourism approval for all the procedures for the hotel in the Sixty Iconic Tower project. Explaining that they are now in the process of finalizing the licenses for implementation by the  Administrative Capital for New Urban Company  (ACUD).

Regarding the company project in NAC, Al-Aassi reveals that Al Borouj Misr is implementing six projects and has pumped EGP 3.5 bn in construction works.

For his part, Frank A. Naboulsi, vice-president operations at Accor Group Egypt, comments that this contract is the third contract signed in NAC and it’s the first contract with a private company in NAC. He further points out that Accor manages several international hotel brands in Egypt, such as Fairmont, Sofitel, Rafael’s, Rixos and Novotel, adding that Accor aims to establish 20 international hotel brands in Egypt via the next five years.