Emaar Hospitality Group has begun renovation works on the historic Al Alamein Hotel in Sidi Abdel Rahman bay on the Mediterranean coast — under the EGP 8 bn Marassi tourism development, the company said in a press release on Tuesday (pdf). "We accept nothing less than the highest world class standards for our projects and clients in Egypt and the transformation of the Al Alamein Hotel is testament to our determination to deliver a superior hospitality product in Egypt,” said Emaar Properties Chairman Mohamed Alabbar. “The hotel we will deliver this summer is a sneak peek into the quality we will deliver not only in Marassi but across all our projects in the country,” he added. Orascom Construction (OC) is the general contractor on the project.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…