PRE Group signs a partnership agreement with Hilton International Group for the development and management of 10 hotel and residential projects in Egypt, with investments estimated at approximately 14 billion pounds, while adding approximately 2,000 hotel rooms and residential units.
The agreement includes the development of 6 hotels and 4 residential projects bearing brands, under the umbrella of 5 brands belonging to the "Hilton" group, in the areas of Ein Sokhana, Alamein and the "Ivory East" project, according to the announcement of the Council of Ministers.
Egypt aims to increase the number of hotel rooms to about 300,000 rooms, and to achieve revenues ranging from 36 to 40 billion dollars a year.