{"id":548520,"date":"2022-08-11T03:51:15","date_gmt":"2022-08-11T03:51:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/"},"modified":"2022-08-11T03:51:15","modified_gmt":"2022-08-11T03:51:15","slug":"the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/","title":{"rendered":"The Mogamma will become the Cairo House Hotel by the end of 2024"},"content":{"rendered":"<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>The Mogamma\u2019s face-lift could be finished in 2024: <\/strong>The consortium of investors redeveloping the Mogamma into a hotel will finish construction by the end of 2024, <a href=\"https:\/\/www.asharqbusiness.com\/article\/40517\">Bloomberg Asharq<\/a> reported Tuesday. This came from Randall Langer, chairman of MENA-focused US investment firm Global Ventures, who together with Oxford Capital and the UAE\u2019s Al Otaiba Investment in December <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec6542ef-2669-479e-800f-97fc8d864564\">won the EGP 3.5 bn contract<\/a> to revamp the administrative building in downtown Cairo.<\/p>\n<p><strong>Introducing the Cairo House Hotel:<\/strong> The Mogamma will be transformed into a new 450-room, five-star hotel. It will have more than 85k sqm of meeting and events spaces, several entertainment venues and restaurants, and feature the capital\u2019s largest rooftop venue. The consortium <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec6542ef-2669-479e-800f-97fc8d864564\">signed<\/a> the contract to redevelop the Mogamma with the Sovereign Fund of Egypt (SFE) and the Planning Ministry in December. The investors will manage the redevelopment of the complex and operate it once it is complete.<\/p>\n<p><strong>It\u2019s costing more than originally planned:<\/strong> The development is now expected to cost around USD 240 mn, Langer told Asharq. The consortium will directly finance about 35% of the project, while the remaining 65% will be raised from banks, he added. The consortium is currently in talks with several local banks and is planning to announce the results of the negotiations within a month, he said, declining to identify the potential lenders.<\/p>\n<p><strong>Contractors have been hired: <\/strong>The consortium has contracted the Middle East-focused <a href=\"https:\/\/www.ccc.net\/\">Consolidated Contractors Company (CCC)<\/a> as its general contractor, managing director of CCC\u2019s North Africa division, Mohamed Tarek, told CNBC Arabia (<a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/99594\/%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%B4%D9%85%D8%A7%D9%84-%D8%A5%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7-%D9%81%D9%8A-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D9%8A%D9%86-%D9%84%D9%80CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%B9%D9%82%D9%88%D8%AF-%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D9%85%D8%AC%D9%85%D8%B9-%D8%A7%D9%84%D8%AA%D8%AD%D8%B1%D9%8A%D8%B1-%D9%8A%D8%A3%D8%AA%D9%8A-%D8%B6%D9%85%D9%86-%D8%AE%D8%B7%D8%A9-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9.html\">watch, runtime: 2:50<\/a>). <a href=\"https:\/\/rmcengineering.com\/\">RMC Engineering<\/a> and project management firm <a href=\"https:\/\/managedbychrome.com\/\">Chrome<\/a> are also onboard.<\/p>\n<p><strong>We could see more activity from CCC in Egypt:<\/strong> The project comes as part of Lebanon-based CCC\u2019s plans to expand in Egypt, Tarek told CNBC Arabia. The company\u2019s current portfolio in Egypt is valued at USD 2 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Mogamma\u2019s face-lift could be finished in 2024: The consortium of investors redeveloping the Mogamma into a hotel will finish construction by the end of 2024, Bloomberg Asharq reported Tuesday. This came from Randall Langer, chairman of MENA-focused US investment firm Global Ventures, who together with Oxford Capital and the UAE\u2019s Al Otaiba Investment in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":548521,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[2238,72,700,125,2239],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-cairo-house-hotel","tag-enterpriseam","tag-global-ventures","tag-investment-watch","tag-mogamma-el-tahrir","wpautop","entry"],"acf":{"mongo_id":"a6a6594a-17e9-439f-923c-fa00803a7e7f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/217.jpg","photo_position":"above","related_issue":[548510],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Mogamma will become the Cairo House Hotel by the end of 2024 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Mogamma will become the Cairo House Hotel by the end of 2024\" \/>\n<meta property=\"og:description\" content=\"The Mogamma\u2019s face-lift could be finished in 2024: The consortium of investors redeveloping the Mogamma into a hotel will finish construction by the end of 2024, Bloomberg Asharq reported Tuesday. This came from Randall Langer, chairman of MENA-focused US investment firm Global Ventures, who together with Oxford Capital and the UAE\u2019s Al Otaiba Investment in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-11T03:51:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/217.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The Mogamma will become the Cairo House Hotel by the end of 2024\",\"datePublished\":\"2022-08-11T03:51:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\"},\"wordCount\":313,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/217.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Cairo House Hotel\",\"EnterpriseAM\",\"Global Ventures\",\"investment watch\",\"Mogamma El Tahrir\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/the-mogamma-will-become-the-cairo-house-hotel-by-the-end-of-2024\/\",\"name\":\"The Mogamma will become the Cairo House Hotel by the end of 2024 - 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and offer a variety of dining and entertainment options","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/400.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553521,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/07\/us-consortium-gets-egp-3-5-bn-mogamma-revamp-contract\/","url_meta":{"origin":548520,"position":1},"title":"US consortium gets EGP 3.5 bn Mogamma revamp contract","author":"enterpriseam admin","date":"7 December 2021","format":false,"excerpt":"US-led consortium tapped for Mogamma overhaul: A consortium of US-based GlobalVentures and Oxford Capital together with the UAE\u2019s Al Otaiba Investment signed yesterday a EGP 3.5 bn (c.USD 200 mn) contract to redevelop Tahrir Square\u2019s Mogamma yesterday with the Sovereign Fund of Egypt (SFE) and the Planning Ministry, the Madbouly\u2026","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/242.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565464,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/mogamma-building-overhaul-to-be-completed-asap\/","url_meta":{"origin":548520,"position":2},"title":"Mogamma building overhaul to be completed ASAP","author":"enterpriseam admin","date":"11 April 2021","format":false,"excerpt":"And speaking of the SFE, the fund is expected to reach an agreement with a private sector partner to repurpose the Mogamma Tahrir building by 3Q2021, Planning Minister and SFE Chairperson Hala El Said said in a statement (pdf). A timeline to move forward with the project \u2014 which will\u2026","rel":"","context":"In &quot;SPEED ROUND: INVESTMENT WATCH&quot;","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/385.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579296,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/gasc-launches-its-second-intl-wheat-tender-this-month\/","url_meta":{"origin":548520,"position":3},"title":"GASC launches its second int\u2019l wheat tender this month","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"COMMODITIES-A second World-Bank backed wheat buy: State grain buyer GASC has launched an international tender for 30-60k tons of wheat for delivery in late February or March, according to its website. Traders need to submit their bids directly to GASC by midday tomorrow. This is GASC\u2019s second grain tender this\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/11.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574298,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/06\/sfe-wants-in-on-desalination-plants\/","url_meta":{"origin":548520,"position":4},"title":"SFE wants in on desalination plants","author":"enterpriseam admin","date":"6 September 2020","format":false,"excerpt":"INVESTMENT WATCH- SFE to invest EGP 30 bn in desalination build-up: The Sovereign Wealth Fund of Egypt (SFE) has been charged with funneling EGP 30 bn in investments towards the first phase of the government\u2019s EGP 134.2 bn plan to build desalination plants across the country, Planning Ministry statement quotes\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553533,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/07\/last-nights-talk-shows-mogamma-overhaul-in-the-spotlight-theres-a-storm-brewin\/","url_meta":{"origin":548520,"position":5},"title":"Last Night\u2019s Talk Shows: Mogamma overhaul in the spotlight + there\u2019s a storm brewin\u2019","author":"enterpriseam admin","date":"7 December 2021","format":false,"excerpt":"Mogamma overhaul gets star treatment: The Sovereign Fund of Egypt signing contracts with a US consortium to develop and manage downtown Cairo\u2019s Mogamma complex was at the top of the talking heads\u2019 agendas last night, with coverage from El Hekaya\u2019s Amr Adib (watch, runtime: 4:47), Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch,\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548520"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548520\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548521"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548520"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548520"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}