Kuwait’s Ekuity Holding is looking to put out a tender for the renovation of the Hilton properties in Zamalek as well as the Ambassador in Dokki, according to Al Mal. The properties, which belong to another Kuwaiti government affiliate, the Zamalek Tourism Investment Company, haven’t been renovated since 2007. Ekuity Holding plans to invest USD 120 mn in the coming months and is close to completing the acquisition of a stake in a real estate development firm and a food and beverages venture.

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