Agreement Covers 10 Projects, Including Six Hotels and Four Branded Residential Developments Under Five Hilton Brands
Dr. Mostafa Madbouly, Prime Minister of Egypt, today witnessed the signing ceremony of a partnership agreement between PRE Group and global hospitality company Hilton at the government headquarters in the New Administrative Capital. The agreement aims to develop and manage an integrated hospitality portfolio with investments estimated at EGP 14 billion, adding approximately 2,000 hotel rooms and residential units to Egypt's hospitality sector. Sherif Fathy, Minister of Tourism and Antiquities, also attended the ceremony.
The partnership agreement was signed by Walid Zaki, Founder and CEO of PRE Group, and Guy Hutchinson, President, Middle East and Africa, at Hilton.
Walid Zaki explained that the agreement covers 10 projects, comprising six hotels and four branded residential developments, operating under five of Hilton's leading global brands: Canopy by Hilton, Tapestry Collection by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton, and Hilton Garden Inn.
He added that the projects will be developed across key destinations within PRE Group's portfolio: Telal Ain Sokhna, Jebal Ain Sokhna, Telal Alamein, and Ivoire East.
Zaki said the partnership is based on the strong belief that Egypt's natural resources and unique tourism assets, including its extensive coastlines and climatic and cultural diversity, require outstanding infrastructure and hotel facilities built to the highest international standards, enabling the tourism sector to reach its full potential.
He added that tourism is a labor-intensive sector that drives growth across numerous related industries. Once fully operational, the projects are expected to create thousands of new direct and indirect jobs, in addition to generating sustainable foreign currency inflows and tax revenues for the state.
The PRE Group Founder and CEO noted that the group's expansion into the hospitality sector through its partnership with an international chain of Hilton's scale builds on its legacy and experience in the Egyptian market, reflecting its vision of developing an integrated hotel portfolio in line with international standards.
He added that PRE Group, in collaboration with Hilton, selected a diverse range of the group's hotel brands to match the nature and location of each project and cater to different customer segments, ensuring the most suitable hospitality experience and brand for each destination in the Egyptian market.
Zaki also pointed out that the significant investments made by the state in infrastructure, transport corridors, and airports have created an ideal environment for the private sector to expand its investments in hotels and services. He highlighted the importance of drawing on the experiences of successful countries that have made tourism a key driver of economic growth, stressing that the new projects will contribute to delivering exceptional hospitality experiences and strengthening the competitiveness of Egyptian tourist destinations.
He explained that the partnership is part of PRE Group's strategy to integrate hospitality into its residential developments, with hotels, services, and facilities complementing the residential component to provide comprehensive experiences for residents and visitors throughout the year.
For his part, Carlos Khneisser, Chief Development Officer, Middle East and Africa, at Hilton, said: "We began our journey in Egypt more than 65 years ago, and we continue to see significant opportunities for growth across the country. We share PRE Group's confidence in the future of tourism in Egypt. This partnership allows us to select the brands and hospitality experiences that best suit each destination and support its growth potential."
He added: "This partnership also represents another step toward expanding our hospitality offering to include both hotel stays and homeownership. Together, these projects will strengthen our presence in key locations and enable more guests and residential owners to enjoy the hospitality Hilton is renowned for around the world."
The expansion follows a specialized hospitality sector study commissioned by PRE Group, covering 12 of its projects across East and West Cairo, the North Coast, Ain Sokhna, and Marsa Alam. The study's findings identified the expansion of hotels and branded residences as a top priority for the group's next phase of growth.
The agreement also supports the state's efforts to develop the hotel sector and enable it to achieve national targets. Egypt's National Tourism Development Strategy aims to increase the country's hotel capacity to approximately 300,000 rooms and welcome nearly 30 million tourists annually by 2030. These targets are driving private-sector investment and partnerships with leading international hotel brands to enhance the competitiveness of Egyptian tourist destinations and improve the quality of the country's tourism product.
