Al-Borouj Misr has signed a contract with Accor Hotels international – which owns more than one brand, including Fairmont, Sofitel, Rafael’s, Rixos, and Novotel – for managing Mövenpick Hotel in the Sixty Iconic Tower project to be the first five-star hotel for the private sector in the New Administrative Capital.
Spanning over 13,000sqm with a height of 45 floors, the Sixty Iconic Tower project is the most prominent company’s project in the region. The tower is in the area facing the Central Business District (CBD), in which the Iconic Tower, the highest tower in Africa, is located.
Vice-Chairman of Al-Borouj Misr Mohamed Assy said that the contract is part of the company’s vision and strategy based on the diversification of its investment portfolio and the selection of the largest global partners to provide all services of its projects.
As per the contract, the Mövenpick Hotel in the Sixty Iconic Tower project is considered the first five-star hotel for the private sector in NAC, Assy said, pointing out that the company engaged in a 8-month discussion to choose the best hotel brands in the world for finalising a hotel coinciding with the highest international standards and specifications. The hotel’s capacity is 190 keys, in the last ten floors of the Sixty Iconic Tower. The serviced residences sold to customers will be managed by Mövenpick Management.
Chairman Assy added that the company has managed to sell about 75% of the project units, with a sales value of about LE2 billion, since it was put the project for sale seven months ago.
Franck Nabulsi, Vice President of Operations and Business Development at the Accor Hotels, said that this contract represents the third that was signed in the capital and the first with a private company there, pointing out that they aim to contract to establish 20 international hotel brands in Egypt during the next five years.