Prime Minister Dr. Mostafa Madbouly today witnessed, at the government headquarters in the new capital, the signing ceremony of the management and operation contract for the historic Continental Hotel in downtown Cairo under India's global "Taj" brand, marking the brand's first entry into the Egyptian market, as a strategic step towards reviving one of Egypt's most important hotel and historical landmarks, in Opera Square in the heart of Khedivial Cairo, and supporting the state's efforts to develop heritage areas of unique architectural value.
The signing ceremony was attended by Eng. Mohamed Shimy, Minister of Public Business Sector, and Ambassador Suresh K. Reddy, India's Ambassador to the Arab Republic of Egypt, underscoring the depth of bilateral relations and economic and investment cooperation between Egypt and India.
The contract was signed by Hisham El-Demery, Executive Managing Director of the Egyptian General Company for Tourism and Hotels (EGOTH), and Puneet Chhatwal, CEO of The Indian Hotels Company Limited, part of India's global Tata Group (owner of the Taj brand), one of the luxury brands that manages more than 335 hotels in more than 150 locations around the world.
Dr. Mostafa Madbouly stressed that the project to revive the historic Continental Hotel in downtown Cairo is a successful model of partnership between the state and the global private sector, within the state's vision to preserve architectural heritage and invest in it economically in a modern and sustainable way, helping to support the tourism sector, generate new jobs and strengthen Cairo's position on the global tourism map.
For his part, Eng. Mohamed Shimy stressed that the signing of this contract comes as part of the ministry's comprehensive strategy to revive and develop state-owned tourism and hotel assets and maximize their economic return through partnerships with major global brands with long experience in hotel management and operation. He explained that the Continental Hotel is one of the prominent architectural and historical symbols in the heart of Khedivial Cairo, and that the ministry launched the project to revive the hotel, with implementation work already beginning on the ground in the second quarter of this year, in line with the state's plan to develop the area and restore its civilizational splendor, with full commitment to preserving the building's original architectural character and historic facades and integrating them with the latest international hotel operating standards.
The Minister of Public Business Sector added that the cooperation with the global Taj brand, which is entering the Egyptian market for the first time through this project, reflects the growing confidence of major international hotel brands in the Egyptian economy and the tourism investment climate, and in Cairo's historical and cultural assets that qualify it to regain its position as a leading global tourist destination. It also reflects the ministry's keenness to choose partners with a distinguished international track record and established experience in managing and operating luxury heritage hotels, ensuring a high-end tourism experience worthy of the historical value of the Continental Hotel and its prime location, and helping to increase high-quality hotel capacity, attract more tourists to Egypt and strengthen its position on the global tourism map. According to the official Facebook page of the Egyptian Cabinet.
The Continental Hotel is one of Cairo's most prominent historical landmarks, dating back to 1870, and enjoys a prime location overlooking Azbakeya Garden and Opera Square. It is set to be revived as a five-star hotel with a capacity of about 300 rooms, while preserving the building's historic architectural style and original facade. The hotel is owned by the Egyptian General Company for Tourism and Hotels (EGOTH), one of the companies of the Holding Company for Tourism and Hotels affiliated with the Ministry of Public Business Sector.
