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The Abu Dhabi Tourism Investment Company (ADTIC), a subsidiary of the state-owned Abu Dhabi Fund for Development (ADFD), has signed an agreement with French hospitality group Accor to manage and operate the Sofitel Legend Pyramids Hotel, located near the Grand Egyptian Museum in Giza.
The 303-room luxury hotel, with an investment of approximately $100 million (excluding land costs), is set to break ground in December 2024, with an anticipated opening in May 2027, ADTIC's CEO Yahia Kotub told Zawya Projects.
Kotub emphasised the importance of the partnership with Accor, stating that the Sofitel Legend brand would "merge French luxury with Egypt’s rich heritage to redefine the luxury travel experience in Giza."
This announcement highlights the ongoing commitment to enhancing Egypt's luxury hospitality offerings while showcasing the cultural and historical significance of the Giza area, Kotub added.
ADTIC is 84 percent owned by the Abu Dhabi Development Fund, with additional shares held by the Abu Dhabi National Hotels (ADNH) and Egypt's Ministry of Public Business Sector. The company’s hotel portfolio includes Movenpick Sharm El Sheikh and Mercure Hurghada, with the Sofitel Legend Pyramids set to be its third major hospitality project.
In November 2023, Zawya Projects had reported that ADTIC is investing $161 million in hotel projects in Egypt including the renovation of existing properties.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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