In a statement, the Egyptian government said the agreement was signed in New Alamein City in the presence of Egyptian Prime Minister Mostafa Madbouly and Minister of Tourism and Antiquities Sherif Fathy. The agreement aims to strengthen Egypt’s tourism sector while also making the country a more attractive destination for international investment.
The agreement aims to expand accommodation experiences in Egypt and enrich luxury lifestyle offerings. This goal will be achieved through the development of five mixed-use projects featuring 11 hotels, residential projects, and a standalone hotel, located in some of the country’s most prestigious coastal destinations and cities experiencing growing demand.
Employment and Economic Revenue Generation
Egyptian Prime Minister Madbouly said the agreement supports efforts to attract more tourists, maximize the tourism sector’s contribution to the national economy, create new employment opportunities, and advance development across various governorates.
Egyptian Minister of Tourism and Antiquities Fathy said the agreement reflects growing confidence in Egypt as a tourism destination among investors and leading international hotel management companies.
