Al Diyar Al Qataria revealed the launch of the St. Regis Residences project during the annual heritage event, the St. Regis Midnight Supper, Invest-Gate reports.

With a cost reaching USD 1 bn, the project aims to support the Egyptian tourism sector and its role in economic development, creating approximately 5,000 direct job opportunities.

Sheikh Hamad Bin Talal Al Thani, Chief Development & Project Delivery of Al Diyar Al Qataria, stated, “We are pleased to introduce the St. Regis Residences as part of a mixed-use project located on the banks of the Nile River in the heart of Cairo, adding that the project bears the latest signatures of the renowned global designer Michael Graves.

He highlighted that the hotel has won the Hotel of the Year award among St. Regis hotels and resorts this year, in addition to recent real estate accolades, including the 5-star awards for the best interior design of a hotel in Egypt, the best design, and construction of a new hotel in Egypt, and the best mixed-use project in Egypt, along with an award for the hotel’s suites.

Building on these achievements, the company executes over 50 real estate and hotel projects valued at $35 bn. Notable among these projects are Lusail City in Qatar, C Pearl Istanbul in Turkey, City Center in the United States, St. Regis Cairo in Egypt, New Cairo, CityGate in Egypt, and Chelsea Barracks in the United Kingdom.

Established in 2005, Al Diyar Al Qataria is one of the entities of the Qatar Investment Authority (the sovereign wealth fund of the State of Qatar). Its headquarters are on the northeastern coast of the capital city, Doha, overlooking the Arabian Gulf. Al Diyar Al Qataria supports Qatar’s growing economy and coordinates the country’s real estate development priorities.