Gov’t looks into setting up JV with Emirati company to develop Shepheard hotel

The Public Enterprises Ministry is in talks with an unnamed Emirati company to set up a joint venture with the Egyptian General Company for Tourism and Hotels (EGOTH) to develop the Shepheard hotel in downtown Cairo, Al Mal reports. The agreement would see the Emirati company and EGOTH each holding a 50% share of the JV, according to EGOTH Chairman Sherif Bendary. The hotel’s development is expected to cost as much as EGP 1 bn.