Prime Minister, Mostafa Madbouly, witnessed today the signing of a strategic Memorandum of Understanding (MoU) between ADD Real Estate, a subsidiary of Sami Saad Holding Group, and the global hospitality giant Hyatt Hotels Group.

This MoU aims to increase Egypt’s hotel room capacity to meet the anticipated growth in tourist arrivals through world-class branded hospitality and residential investments in key locations across the country.

The Investment plan includes a total value of approximately $265 million to develop and increase the number of hotel rooms and branded serviced residences.

Minister of Tourism and Antiquities Sherif Fathy affirmed that the agreement reflects the strong confidence of major international institutions in Egypt’s economic prospects and the promising growth of its tourism market.

 He noted that this collaboration marks a vital move to expand the availability of internationally branded hotels and residences to accommodate the expected surge in visitor numbers.

He further stressed the Ministry’s full support for such high-value investments that blend global standards with Egypt’s unique cultural identity, contributing to innovative hospitality experiences that meet the expectations of travelers from around the world while showcasing Egypt’s rich artistic and cultural heritage.

This partnership forms part of ongoing efforts by both parties to bolster Egypt’s hospitality and tourism sectors and to support economic growth through sustainable real estate and tourism projects.

This property is the first art-themed hotel in Egypt and Africa, brought to life by 11 distinguished Egyptian artists who created a space that celebrates distinctive local identity and artistic expression.