Prime Minister Moustafa Madbouli witnessed on Wednesday the signing of an agreement between Marriott International, Misr Italia Properties and People & Places Real Estate Development to develop 11 hotels and resorts comprising more than 1,800 hotel rooms and suites across Egypt’s leading coastal and urban destinations.
The signing ceremony, held at the Government Headquarters in New Alamein City, was attended by Minister of Tourism and Antiquities Sherif Fathy, Minister of Housing, Utilities and Urban Communities Randa el-Menshawy, Deputy Minister of Housing for Urban Communities Walid Abbas, and Vice Chairman of Misr Italia Properties Adel El-Naggar.
The agreement covers five mixed-use developments incorporating hotels, branded residences and a standalone hotel in prominent coastal destinations and rapidly growing cities.
Prime Minister Madbouli said the agreement supports the state’s strategy to expand tourism investment and hotel capacity in line with the sector’s continued growth.
He described it as a reflection of private sector confidence in Egypt’s investment climate, noting that it would enhance hotel service quality, meet rising demand, create jobs and strengthen tourism’s contribution to the national economy.
Antiquities minister said the agreement demonstrates growing international investor confidence in Egypt and confirms the attractiveness of the Egyptian market, supported by policies that encourage investment, expand hotel capacity and improve service quality to accommodate increasing tourist arrivals.
Housing Minister, for her part, said Egypt’s new cities now possess advanced infrastructure, transport networks and modern facilities, enabling them to attract greater domestic and foreign investment.
She added that expanding hotel and tourism projects would create employment, increase occupancy rates, stimulate economic activity and maximise returns on real estate and tourism assets through strong private sector partnerships.
Vice President of Hotel Development for North Africa at Marriott International Shady Hassan described Egypt as one of the company’s strategic markets because of its tourism potential, infrastructure development and rising demand for luxury hospitality, reaffirming Marriott’s long-term commitment to the country.
Chief Executive Officer and Managing Director of Misr Italia Properties and Co-founder of People & Places Real Estate Development Mohamed Khaled El Assal said the companies’ investments exceed LE56.7 billion and that the expansion programme is expected to create around 6,000 direct and indirect jobs while attracting approximately 373,000 tourists annually.
Chief Executive Officer and Managing Director of Misr Italia Properties and Co-founder of People & Places Real Estate Development Karim Khaled El Assal said the partnership has already delivered a portfolio exceeding 1,800 hotel rooms and branded residential units, with Marriott’s global expertise supporting the delivery of premium hospitality experiences and the companies’ long-term expansion strategy.
