{"id":672613,"date":"2025-09-28T00:00:00","date_gmt":"2025-09-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/28\/qatars-retaj-hotels-to-manage-egp-2-bn-new-capital-hotel\/"},"modified":"2025-09-28T00:00:00","modified_gmt":"2025-09-28T00:00:00","slug":"qatars-retaj-hotels-to-manage-egp-2-bn-new-capital-hotel","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/28\/qatars-retaj-hotels-to-manage-egp-2-bn-new-capital-hotel\/","title":{"rendered":"Qatar\u2019s Retaj Hotels to manage EGP 2 bn new capital hotel"},"content":{"rendered":"<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qatar\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/retaj-hotels.com\/\" style=\"\" rel=\"noopener\">Retaj Hotels and Hospitality Group<\/a><\/strong><strong> will manage a EGP 2 bn hotel in <\/strong><strong>the new capital\u2019s Jeval Business Complex<\/strong>, company officials announced in a press conference attended by EnterpriseAM. The agreement to run the 66-key hotel was signed with Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/wealthdevelopments.com\/\" style=\"\" rel=\"noopener\">Wealth Holding Developments<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You might not have heard about Retaj before, but they\u2019re set to become an important <\/strong><strong>hospitality player in the country soon<\/strong>, with six hotels in Egypt currently under construction. The first of these is set to open in early 2026, followed by its second later in the year, as the company works to build a stock of 3k hotel rooms by 2030, according to Group Chairman Sheikh Nayef bin Eid Al Thani.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, the company will increasingly look beyond the new capital and New <\/strong><strong>Cairo<\/strong> to Sharm El Sheikh, Ain Sokhna, New Alamein, and Aswan, Al Thani said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A suitor for Ascom\u2019s Glassrock? <\/strong>An unnamed foreign investor is interested in fully acquiring Qalaa Holdings\u2019s mining arm <a target=\"_blank\" href=\"https:\/\/ascom.com.eg\/\" style=\"\" rel=\"noopener\">Ascom<\/a> \u2019s <a target=\"_blank\" href=\"https:\/\/www.glassrock.com.eg\/\" style=\"\" rel=\"noopener\">Glassrock Insulation<\/a>, Ascom said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/1565.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the EGX. Ascom gave the investor the green light to conduct its due diligence on the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>nergy gia<\/strong><strong>nt BP plans to drill a second USD 150 mn gas well in its <\/strong><strong>North <\/strong><strong>King Mariout offshore concession in early 2026<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/99725\/%D8%A8%D9%8A-%D8%A8%D9%8A-%D8%AA%D8%A8%D8%AF%D8%A3-%D8%AD%D9%81%D8%B1-%D8%A8%D8%A6%D8%B1-%D8%BA%D8%A7%D8%B2-%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D8%A8%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%A7%D9%84%D9%83%D9%8A%D9%86%D8%AC-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%85%D8%B7%D9%84%D8%B9-2026\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. The second well should enable the company to accurately assess the stock of recoverable gas ahead of starting production in 2Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orange Egypt opened up gold trading to its mobile wallet users<\/strong>, allowing customers to buy and sell the precious metal through mobile wallets for the first time in Egypt, the telecoms operator said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/orange-egypt-launches-egypts-first-digital-platform-gold-tjlof\/?trackingId=r%2Be%2Bdtk0RceaFrANLfIweg%3D%3D\" style=\"\" rel=\"noopener\">statement<\/a>. The digital platform was made in partnership with Evolve Investment Holding\u2019s online precious-metals trading subsidiary <a target=\"_blank\" href=\"https:\/\/mngm.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/mngm.com\/\" style=\"\" rel=\"noopener\">mnGm<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PHARMA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned medical <\/strong><strong>city complex Gypto Pharma will begin exporting to the <\/strong><strong>UAE, Saudi Arabia, and Kuwait by the end of 2026<\/strong>, CEO Amr Mamdouh told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid029BAyQwEh9ZEZrHQbZLyFXpxEJ3dEZP21S6UYku83Cp9PzqWTS1rnDkMhE3DchXSpl\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Gypto Pharma and the US\u2019s Dawah Pharma are also planning to invest USD 200 mn over three phases within 18-24 months, with the aim of exporting biological meds exclusively to the US, Dawah Pharma\u2019s CEO Hossam Abdel Maksoud told the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0LD9LgZF4z3zieKHnpveBsXggHZGZWFWUvX3LWPYN9FvZ8eWeicMffu4NSP64BRnvl\" style=\"\" rel=\"noopener\">outlet<\/a>. US-bound exports are expected to come in at USD 800 mn-1.2 bn in the first year and rise to some USD 8 bn within three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>South Korea will help train Egyptian car mechanics to work on EVs, <\/strong><strong>hybrids<\/strong>, <strong>and CNG-powered vehicles<\/strong> under an MoU signed between the Planning and International Cooperation Ministry and the Korean Embassy, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1LJUDkn4Pp\/\" style=\"\" rel=\"noopener\">statement<\/a>. The project will be supported by a USD 10 mn grant from the Korea International Cooperation Agency, which will go toward developing a curriculum and upgrading equipment at four car maintenance training centers under the Industry Ministry\u2019s Productivity and Vocational Training Department.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- A suitor for Ascom\u2019s Glassrock?<\/p>\n","protected":false},"author":1,"featured_media":672614,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7209],"tags":[111,144,196,101,93,72,183,955,131,373,842,427,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-672613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-bp","tag-development-finance","tag-energy","tag-enterpriseam","tag-fintech","tag-hospitality","tag-manufacturing","tag-mining","tag-orange-egypt","tag-pharma","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"7d38088a-10cc-44ad-9f09-fdb6cd96bc8c","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1925.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qatar\u2019s Retaj Hotels to manage EGP 2 bn new capital hotel","related_issue":[672599],"teaser":"PLUS- A suitor for Ascom\u2019s Glassrock?","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.55078d5e-8254-4bdb-8752-f8477e0dde66.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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