38
Egypt’s Palm Hills Development Company signed a new hotel deal in Cairo with US Marriott International hotel chain, the company said on Tuesday.
The projects comes at a cost of around four billion Egyptian pounds ($129 million), they added.
In a disclosure statement to the Egyptian Exchange (EGX), Palm Hills said it signed the agreement for the Ritz-Carlton Cairo, Palm Hills.
It is set to open in 2027 and will hold 150 guest rooms and 50 serviced apartments, the statement added.
“It has an estimated investment of four billion pounds. We would like to welcome Marriott International as our new prominent partner in Palm Hills October,” Palm Hills Chairman and CEO Yassin Mansour said.
