Prime Minister Mostafa Madbouly witnessed on Tuesday the signing of two agreements with international hotel groups Hilton and Titanic to expand Egypt’s luxury hospitality sector through new investments and hotel management partnerships.
The first agreement was signed between the Egyptian company Jazal for Real Estate and Tourism Investment, and Turkish group Titanic Hotels to manage the Titanic Luxury Collection hotel in Sharm El-Sheikh, marking the luxury brand’s entry into the Egyptian market.
Built with entirely Egyptian investments of around $180 million, the five-star ultra-luxury hotel features a one-kilometre beachfront, 560 rooms and 60 villas, alongside an aqua park, sports facilities, restaurants, a ballroom and a spa. The property has completed construction, with preparations underway for its soft opening within the next 30 days.
Jazal Chairman Hafez Bashir said the two companies also plan to sign management agreements for three additional hotels in Egypt, reflecting the Turkish group’s confidence in the country’s tourism market.
Madbouly witnessed also the signing of a partnership agreement between PRE Group and Hilton to develop and manage a portfolio of hotel and branded residential projects, with investments estimated at LE14 billion.
The partnership is expected to add around 2,000 hotel rooms and residential units through 10 projects, comprising six hotels and four branded residential developments. The projects will operate under five Hilton brands: Canopy, Tapestry Collection, Hilton Hotels and Resorts, DoubleTree by Hilton and Hilton Garden Inn.
The developments will be located at Telal Sokhna, Jebal Sokhna, Telal Alamein and Ivory East.
PRE Group founder and CEO Walid Zaki said the projects are expected to generate thousands of direct and indirect jobs once fully operational, in addition to supporting foreign currency inflows and tax revenues.
Hilton’s President for the Middle East and Africa, Guy Hutchinson, said the partnership reflects the group’s confidence in Egypt’s tourism prospects.
Hilton has operated in Egypt for more than 65 years, he added.
The agreements come as Egypt seeks to increase its hotel capacity to 300,000 rooms and attract around 30 million tourists annually by 2030, under its national tourism development strategy.
