Abu Dhabi Tourism Investments Expands Investments in the Egyptian Market
Yahia Kotub: The investment portfolio for developing and renovating Abu Dhabi Tourism Investments’ hotels in Egypt may reach EGP 9.5 billion.
Announcement of the opening ceremony for the first phase of the renovation and development of Movenpick Sharm El-Sheikh soon
Yahia Kotub, the CEO of Abu Dhabi Tourism Investments, revealed that the investment portfolio for developing the company’s hotels in the Egyptian market may reach around EGP 9.5 billion.
The CEO of Abu Dhabi Tourism Investments added that the renovation and development plan for the Movenpick hotel may reach EGP 2 billion, the development, renovation and brand upgrade plan for the Mercure hotel in Hurghada may reach EGP 2.5 billion, and the construction of a five-star hotel across from the Grand Museum overlooking the Giza Pyramids with a distinctive brand may reach EGP 5 billion, with a total investment that started and will be completed within two years exceeding EGP 9 billion.
He pointed out that with great pride, Abu Dhabi Tourism Investments is pleased to announce the opening of the new lobby of our hotel in Sharm El-Sheikh, as part of the comprehensive renovation and development work for this outstanding architectural project, which is characterized by its Moroccan and Andalusian character, which the assigned consultant designer has preserved.
He emphasized that the new lobby was designed with great care to highlight the hotel’s authentic architectural identity and preserve the distinctive heritage character that reflects the culture and history of the region. The materials used in the construction – from marble, rare woods and decorated ceramics – were carefully selected to harmonize with the distinctive design.
He added, “We are proud of this architectural achievement that adds an elegant and unique touch to the experience of our guests in the hotel,” confirming that the new lobby will provide our guests with a calm and enjoyable atmosphere from the moment they arrive at the hotel.
He explained that the new lobby is characterized by large open-air spaces, with comfortable and carefully designed seating areas, as well as upscale restaurants and cafes offering the most delicious local and international cuisines and beverages.
He invited everyone to visit this exceptional architectural masterpiece and explore everything our new hotel in Sharm El-Sheikh has to offer, noting that there will be an official opening ceremony soon for the Movenpick Sharm El-Sheikh hotel after the completion of the first phase.
The CEO of Abu Dhabi Tourism Investments stated that the completion of the first phase represents 70% of the project, which includes a comprehensive renovation of 186 rooms, the lobby, outdoor areas, the beach promenade, the Jetty and entertainment areas, and the second phase will complete the renovation of 112 rooms and 4 villas, as well as the restaurants.
He pointed out that the company is looking forward to expanding the utilization of its owned lands to increase the hotel capacity.
