Amer Group’s Delmar signs deal to run Marriott Residence Heliopolis project

Egypt’s Amer Group Holding announced on Tuesday that its subsidiary Delmar for Touristic Development signed an agreement with Marriott International for the branding and management of Marriott Residences Heliopolis project in Cairo.
The agreement was signed by Hosny Hany, chief executive of Delmar; and authorised representatives at Marriott International, said Amer Group in a statement.
Marriott Residence Heliopolis is spanning over 27,000 square metres in El-Thawra Street in Heliopolis, a few minutes from Cairo International Airport, Roxy Square, and Korba.
The project, which features 1,300 premium branded residences with an estimated investment cost of 3.5 billion Egyptian pounds ($223 million), will be offered for sale over several phases in the coming days.
Phase one is due to complete in four years, the statement added.
Amer Group said that a renowned international agency has been engaged to make design changes, which will comply with the requirements set by Marriott International.
The statement also included a disclaimer that Marriott Residences Heliopolis is not owned, developed, or sold by Marriott International Inc. or its affiliates.