{"id":589459,"date":"2023-07-04T00:00:00","date_gmt":"2023-07-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/04\/abu-dhabi-hotel-group-could-invest-usd-175-mn-in-egypt-portfolio\/"},"modified":"2023-07-04T00:00:00","modified_gmt":"2023-07-04T00:00:00","slug":"abu-dhabi-hotel-group-could-invest-usd-175-mn-in-egypt-portfolio","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/04\/abu-dhabi-hotel-group-could-invest-usd-175-mn-in-egypt-portfolio\/","title":{"rendered":"Abu Dhabi hotel group could invest USD 175 mn in Egypt portfolio"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Abu Dhabi Tourism Investment Company (<\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/adticeg.com\/\" style=\"\">ADTIC<\/a><\/span><span style=\"font-weight:700\">) has earmarked USD 95 mn to <\/span><span style=\"font-weight:700\">build a \u201clarge hotel\u201d in the Giza pyramids area<\/span><span>,<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skynewsarabia.com\/business\/1632434-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%95%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\" style=\"\">Sky News Arabia<\/a><\/span><span> quotes <\/span><span>Chairman Mohammed Saif Al Suwaidi as saying. The project comes as the Sisi administration prepares to open the Grand Egyptian Museum in the area <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49f88f6c-09a1-4f2c-99f0-db2e4bf962a4\" style=\"\">later this year<\/a><\/span><span style=\"font-weight:400;\">, Al Suwaidi added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Red Sea refurb:<\/span><span>The company is also investing around USD 80 mn to modernize its hotels in Sharm El Sheikh and Hurghada, CEO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16ef3d2b-c10d-4fc9-840f-a59f0cccace1\" style=\"\">Yahya<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16ef3d2b-c10d-4fc9-840f-a59f0cccace1\" style=\"\">Kotub<\/a><\/span><span style=\"font-weight:400;\"> reportedly told the broadcaster.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ADTIC owns a number of hotels in Egypt\u2019s most popular tourist destinations <\/span><span>including the Mercure <\/span><span>Luxor Karnak Hotel, Mercure Hurghada Resort, M\u00f6venpick Resort Sharm El Sheikh, and Mercure Cairo Le Sphinx Hotel, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adticeg.com\/en\/hotels-list?hotel=mercure-luxor-kranak-hotel\" style=\"\">website<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Remember:<\/span><span> The government wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84c1950b-328d-4eae-bc55-de940b4abdcc\" style=\"\">more than triple annual tourism revenues<\/a><\/span><span> over the next three years to USD 30 bn a year under an ambitious strategy that targets attracting <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b252d5fc-e5e3-41f9-a8ca-8c9cf8c17127\" style=\"\">30 mn tourists<\/a><\/span><span style=\"font-weight:400;\"> to the country every year by 2028.  <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will invest another USD 80 mn to revamp its Red Sea resorts<\/p>\n","protected":false},"author":1,"featured_media":589460,"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":[8254,72,955,125,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-abu-dhabi-tourism-investment-company","tag-enterpriseam","tag-hospitality","tag-investment-watch","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"63e852b0-603d-456d-9eb8-63022938fc44","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/39.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi Tourism Investment Company could invest USD 175 mn in Egypt portfolio","related_issue":[589454],"teaser":"The company will invest another USD 80 mn to revamp its Red Sea resorts","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.42614e27-1e6f-4ae5-8371-ce2f79ff23db.mp3"},"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>Abu Dhabi hotel group could invest USD 175 mn in Egypt portfolio - 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\/2023\/07\/04\/abu-dhabi-hotel-group-could-invest-usd-175-mn-in-egypt-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi 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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\/2025\/3\/1174.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574480,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/abu-dhabi-touristic-investment-co-to-develop-modernize-its-hotels-in-egypt\/","url_meta":{"origin":589459,"position":2},"title":"Abu Dhabi Touristic Investment Co. to develop, modernize its hotels in Egypt","author":"enterpriseam admin","date":"10 September 2020","format":false,"excerpt":"The Abu Dhabi Touristic Investment Company (ADTIC) is planning to use the current covid-induced low occupancy period to revamp and modernize its hotels in Egypt, Chairman Mohammed Saif Al Suwaidi said, according to Emirates news agency WAM. Al Suwaidi didn\u2019t disclose how much the company would invest or provide a\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591856,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/abu-dhabi-development-holding-company-to-invest-eur-100-mn-in-fti-group\/","url_meta":{"origin":589459,"position":3},"title":"Abu Dhabi Development Holding Company to invest EUR 100 mn in FTI Group","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"Abu Dhabi Development Holding Company is seeking to invest EUR 100 mn in tour operator FTI Group, almost a third of which is owned by Egyptian businessman Samih Sawiris, according to Al Mal. The two companies will sign a partnership agreement to attract European tourists to Abu Dhabi.","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555295,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/09\/abu-dhabi-ports-could-invest-usd-500-mn-in-egypt\/","url_meta":{"origin":589459,"position":4},"title":"Abu Dhabi Ports could invest USD 500 mn in Egypt","author":"enterpriseam admin","date":"9 November 2021","format":false,"excerpt":"Abu Dhabi Ports (ADP) plans to invest USD 500 mn in Egypt, should it be successful in winning the contracts for two upcoming port development projects, Saif Al Mazrouei, the head of the company\u2019s ports division, told Al Arabiya. The company will come forward with offers for the Tenth of\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575584,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/","url_meta":{"origin":589459,"position":5},"title":"Abu Dhabi sovereign wealth fund invests USD 1 bn in LuLu\u2019s Egypt expansion","author":"enterpriseam admin","date":"20 October 2020","format":false,"excerpt":"INVESTMENT WATCH- Abu Dhabi\u2019s sovereign wealth fund ADQ Holding will invest USD 1 bn in retailer LuLu\u2019s Egypt expansion, the fund said in a statement. The non-binding agreement will see the Abu Dhabi-based retailer establish up to 30 hypermarkets and 100 mini markets, as well as logistics hubs and distribution\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\/2020\/10\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/589459","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=589459"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/589459\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/589454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/589460"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=589459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=589459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=589459"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=589459"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=589459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}