Khaled Abbas, Chairman of Administrative Capital for Urban Development (ACUD), witnesses the launching ceremony of Nile Developments’ Tycoon Tower, which is considered the highest hotel building in Africa, Invest-Gate reports.

Nile Developments has entered into a contract with Millennium Hotels to operate the new hotel.

Abbas notes that ACUD is in constant contact with all the developers of the new capital to overcome all difficulties, stressing that everyone is collaborating to complete the giant national project, which is considered the most prominent feature of the new republic launched by President Abdel Fattah El-Sisi.

Abbas highlights the importance of attracting foreign investments, stressing on providing all means of support for them to enter the Egyptian real estate market, especially NAC project.

For his part, Mohamed Taher, Chairman of Nile Developments, reveals that Tycoon Tower is 233 meters high, and it is an exceptional real estate project that will set a new global standard as the tallest hotel in Africa.

Taher adds that the strategic location of Tycoon Tower allows easy access to it from all major axes, as it is located in the middle of the Downtown area and is close to 80% of the landmarks of the new capital.