{"id":94564,"date":"2025-02-19T00:00:00","date_gmt":"2025-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/19\/scope-properties-to-invest-usd-190-mn-in-two-hotels-on-egypts-mokattam-corniche\/"},"modified":"2025-02-19T00:00:00","modified_gmt":"2025-02-19T00:00:00","slug":"scope-properties-to-invest-usd-190-mn-in-two-hotels-on-egypts-mokattam-corniche","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/19\/scope-properties-to-invest-usd-190-mn-in-two-hotels-on-egypts-mokattam-corniche\/","title":{"rendered":"Scope Properties to invest USD 190 mn in two hotels on Egypt\u2019s Mokattam Corniche"},"content":{"rendered":"

<\/strong>Al Swailem Holdi<\/strong>ng Group\u2019s subsidiary <\/strong>Scope Properties<\/a><\/strong> will set up two hotels on <\/strong>Egypt\u2019s Mokattam Corniche with investments of USD <\/strong>190 mn<\/strong>, Scope Properties\u2019 Managing Director Alaa Khedr told Asharq Business<\/a>. Under the plan, Scope Properties will build a USD 120 mn, 250-key hotel and another USD 60 mn, 150-key hotel. Scope also launched an EGP 5 bn commercial project in Mokattam called A40 that will house retail and administrative units, as well as clinic units, Al Mal<\/a> reports.<\/p>\n

The investments are part of a wider plan to develop the Mokattam Corniche<\/strong> in partnership with Egypt\u2019s state-owned El Nasr Housing and Development under a 2022 agreement<\/a>. Al Swailem will contribute half of the project\u2019s USD 1.7 bn price tag, with the other half financed by Saudi Exim Bank, Khedr said<\/a>. The project is expected to generate some EGP 125 bn in revenues over nine years, El Nasr\u2019s CEO Mohamed Abdel Maksoud told Asharq Business<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Scope Properties + El Nasr Housing are collaborating for the corniche's transformation<\/p>\n","protected":false},"author":1,"featured_media":94565,"comment_status":"","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":[3461],"tags":[4027,10,94,106,4028],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hospitality","tag-al-swailem-holding-group","tag-enterpriseam-ksa","tag-hospitality","tag-real-estate","tag-scope-properties","wpautop","entry"],"acf":{"mongo_id":"735d15a9-a8b7-40d4-93fe-b2c6736ed040","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1945.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Scope Properties to invest USD 190 mn in two hotels on Egypt\u2019s Mokattam Corniche","related_issue":[94557],"teaser":"Scope Properties + El Nasr Housing are collaborating for the corniche's transformation","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.ea0b8194-c82b-46f0-8bc2-e893589bad19.mp3"},"yoast_head":"\nScope Properties to invest USD 190 mn in two hotels on Egypt\u2019s Mokattam Corniche - 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