Prime Minister Mostafa Madbouly has presided over a signing ceremony at the government headquarters in the New Administrative Capital where Palm Hills Developments and Marriott International inked an agreement, Invest-Gate reports.
The collaboration aims to develop a luxury hotel named Ritz-Carlton Palm Hills in western Cairo. The event was graced by Ahmed Issa, Minister of Tourism and Antiquities.
Yasseen Mansour, Chairman & Group CEO of the Board of Directors at Palm Hills, and Shady Hassan, Vice President of Lodging Development in Europe, the Middle East & North Africa, signed the agreement.
Moreover, Madbouly emphasized the Egyptian state’s keenness to invest in the tourism sector, especially in the western Cairo area near the pyramids and the upcoming Grand Egyptian Museum. He highlighted the region’s unprecedented infrastructure development, including roads, and the Sphinx International Airport, which recently underwent expansion and development and is now operational.
Furthermore, Mansour outlined that as per the agreement, Palm Hills and Marriott International are collaborating to bring the Ritz-Carlton brand to western Cairo by developing an expectedly grand hotel, set to open in 2027.
Also, Mansour detailed that the project’s investments total EGP 4 bn and will employ 600 individuals directly post-completion, with around 45,000 job opportunities during construction.
Sandeep Walia, the COO of Marriott International in the Middle East, expressed delight in partnering with Palm Hills, aiming to introduce unprecedented elegance and luxury to western Cairo. He underscored Cairo’s status as a globally renowned tourist destination, lauding its rich historical and cultural landmarks.
Notably, Walia affirmed its continuous pursuit of promising opportunities to expand its esteemed brands in Egypt and other favoured destinations for its clientele.