Gulf Egypt for Hotels and Tourism, a subsidiary of United Real Estate Company – Kuwait, has announced the launch of its integrated luxury tourism project in Sharm El Sheikh, which is currently at an advanced stage of development and strategic planning ahead of the start of construction.
Gulf Egypt plans to invest more than EGP 20 billion to develop one of the most distinctive integrated tourist destinations in Sharm El Sheikh, combining hospitality, residences, a wellness lifestyle and leisure activities within an integrated development master plan. The project covers an area of 354,458 square meters with a 750-meter seafront of rare natural sandy beaches, and enjoys a strategic location minutes from Sharm El Sheikh International Airport and close to the city's main conference and event centers.
United Real Estate Company is the real estate arm of Kuwait Projects Company Holding (KIPCO) and one of the largest real estate companies in Kuwait and the Middle East and North Africa. The project represents a new model of cooperation aimed at strengthening Egypt as a tourist destination and attracting quality investment, in line with the targets of Egypt Vision 2030 for developing integrated hospitality destinations and supporting sustainable tourism development.
With the support of the Presidency and the Tourism Development Authority, a protocol was signed to continue cooperation with Montazah Tourism and Investment Company, through which Gulf Egypt for Hotels and Tourism acquired the project land following a comprehensive evaluation and planning process in line with its long-term development strategy.
In this context, Major General Sameh Shoaib, Executive Managing Director of Montazah, said: "Our cooperation with a leading company of Gulf Egypt's size reflects the shared desire to shape new horizons for tourism development in Sharm El Sheikh. We are proud to contribute to this ambitious project by providing all forms of support to ensure the development of integrated tourism infrastructure that meets the aspirations of investors and visitors and helps drive the sector's growth forward."
Gulf Egypt also signed an agreement with HVS, one of the world's leading hospitality consultancy firms, to provide market studies and economic feasibility studies for the hotel component, as well as an agreement with JLL to carry out market and economic feasibility studies and support the preparation of the project's master plan, development strategy and specialized studies for the integrated project, ensuring the destination is developed according to the best international principles and standards.
The signing ceremony was attended by Eng. Tarek El Shazly, CEO of Gulf Egypt for Hotels and Tourism; Hala Matar Choufany, President of HVS Middle East, Africa and South Asia; and Ayman Samy, Head of JLL Egypt.
In this context, Eng. Tarek El Shazly highlighted the strategic dimension of this expansion, saying: "The launch of our new destination in Sharm El Sheikh is a true embodiment of our strategic vision of creating integrated, mixed-use tourist destinations that leave a lasting mark on the hospitality sector. We are not just developing world-class hotel facilities, but shaping flexible investments that support the state's tourism development plans and create new horizons for growth. Our partnerships today with global industry leaders are the cornerstone through which we ensure exceptional operating and planning standards befitting Egypt's position as a leading tourist destination."
In a related context, Hala Matar Choufany, President of HVS Middle East, Africa and South Asia, praised Gulf Egypt for supporting a project of this scale, ambition and long-term vision. She said Sharm El Sheikh continues to show strong hospitality fundamentals and global leisure appeal, and that investors and operators are showing growing confidence in the destination's future, adding that projects of this momentum do not merely increase the supply of tourist units, but strengthen the standing of the entire destination in the regional and international hospitality and tourism market.
For his part, Ayman Samy, Head of JLL Egypt, stressed that strategic planning based on accurate market studies is the foundation of success for major tourist destinations, adding that through its cooperation with Gulf Egypt, JLL seeks to apply innovative advisory insights and international standards that create added and sustainable value for the project and strengthen its competitiveness as an attractive destination keeping pace with global market developments.
Through these strategic partnerships, the project will include a luxury hotel with direct views of the gulf, two internationally branded residential complexes, and the first internationally branded beach club in Sharm El Sheikh, which will be one of the project's main attractions and a vibrant social hub all year round, hosting a variety of events and leisure experiences that strengthen the project's position as an integrated hospitality and lifestyle destination. The project will also include a range of wellness and leisure areas supported by specialized international operators, enhancing the destination's appeal to residents and visitors and helping diversify Egypt's tourism product.
As the master plan evolved and new areas were added to the project's scope, Gulf Egypt and its partners carried out a comprehensive review to ensure maximum long-term economic, tourism and community impact. The project has completed all the main strategic studies and assessments and is currently in the final stages of the approvals cycle ahead of moving to the implementation phase.
Gulf Egypt was founded in 1976 and has a strong track record of success in the Egyptian market spanning more than 5 decades. Its most prominent assets include the Hilton Cairo Heliopolis and Waldorf Astoria Cairo Heliopolis hotels, and it was the first to bring Hilton's luxury Waldorf Astoria brand to Africa.
The new Sharm El Sheikh project is the latest milestone in the company's journey, offering an integrated destination combining hospitality, residences, wellness, leisure and community experiences within a sustainable development framework. Through its strategic cooperation with Montazah Tourism and Investment Company, HVS, JLL and future operating partners, Gulf Egypt seeks to develop a distinctive destination that enhances Sharm El Sheikh's tourism landscape and supports Egypt's vision of becoming one of the world's leading tourist destinations.
