Hotel Investment Reaches $180 Million, Featuring 560 Rooms and 60 Villas
Dr. Mostafa Madbouly, Prime Minister of Egypt, witnessed the signing ceremony of a hotel management agreement for the Titanic Luxury Collection in Sharm El Sheikh between Ghazal for Real Estate and Tourism Investment, an Egyptian joint-stock company, and the Turkish international group Titanic Hotels. The ceremony also marked the launch of the luxury hotel brand Titanic Luxury Collection in the Egyptian market, reflecting Egypt’s growing appeal to international investors in the tourism and luxury hospitality sector.
The signing ceremony was attended by Sherif Fathy, Minister of Tourism and Antiquities; Major General Dr. Ismail Mohamed, Governor of South Sinai; and Or Ingesu, Executive Director of the Turkish international group Titanic Hotels in Egypt.
The agreement was signed by Muzaffer Aygün, Managing Director of Titanic Hotels, and Hafez Bashir, Chairman of the Board of Directors of Ghazal for Real Estate and Tourism Investment.
The selection of Titanic Luxury Collection to manage the hotel in Sharm El Sheikh marks the culmination of efforts by project owner Ghazal to attract one of Turkey’s distinguished international hotel brands. It also reflects the company’s commitment to implementing the brand’s approved operational and hospitality standards, ensuring a guest experience that meets the highest international standards of luxury and quality.
The hotel was built with entirely Egyptian investments amounting to approximately $180 million, positioning it as one of Sharm El Sheikh’s distinguished luxury hospitality projects. The property stretches along one kilometer of beachfront and features 560 hotel rooms and 60 hotel villas, in addition to a comprehensive range of facilities and services, including sports courts, an aqua park, a ballroom, and a variety of restaurants. These include two restaurants affiliated with international brands entering the Egyptian market for the first time, as well as a fully equipped spa.
The hotel is classified in the five-star Ultra-Luxury category. Construction and operational preparations have been completed, while final arrangements are currently underway ahead of the start of its soft-opening phase within the next 30 days.
Hafez Bashir highlighted Ghazal’s investment expansion plans, noting that Ghazal and Titanic Hotels have announced their intention to sign management agreements for three additional hotels in Egypt. This reflects the Turkish group's confidence in the Egyptian market and its readiness to strengthen its presence and invest in Egypt's promising tourist destinations.
Bashir reaffirmed that Ghazal for Real Estate and Tourism Investment will continue developing a portfolio of major tourism and hospitality projects in cooperation with leading international luxury hotel chains and brands. He explained that these projects are part of the company's vision to deliver an Ultra-Luxury hospitality product by attracting prestigious international brands and developing integrated tourism destinations that meet the expectations of global tourism markets and enhance the competitiveness of Egypt as a tourist destination.
The Chairman of Ghazal for Real Estate and Tourism Investment expressed his sincere appreciation to the Egyptian government for its support, cooperation, facilitation of procedures, and efforts to overcome obstacles, which helped accelerate the project's completion and bring it to the pre-opening stage. He noted that this reflects the state's commitment to supporting tourism investments and encouraging the private sector to inject further investment into this vital sector.
He added that the project highlights the importance of partnerships between Egyptian capital and international hospitality expertise and brands as a key driver of strengthening Egypt's position on the global luxury tourism map, increasing hotel capacity, attracting new segments of tourists, and supporting the state's tourism development targets.
