Informed sources reveal that Qatar’s Alkuwari International Group presents an offer to Arab International Company for Hotels and Tourism to buy Ramses Hilton hotel in Cairo for around $320 mn, Invest-Gate reports.

The Egyptian company owning the hotel is still negotiating the deal with the Qatari investor, sources notes.

In March 2022, the Egyptian government agreed with Qatar on investments and partnerships with a total value of up to $5 bn.

The fields in which the Qatari investments are not disclosed yet, but the Minister of Planning, Hala El-Said, says that the Qatari Investment Authority would acquire assets in Egypt.

It is worth noting that Qatari investments in 10 years amount to $2.7 bn. Remittances by Egyptians working in Qatar rose 15% YoY to $1.5 bn in the fiscal year 2020/2021.