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Saudi-Egyptian joint venture AkamAlRajhi Developments announced on Monday that it has appointed global hotel operator IHG Hotels & Resorts to manage a 5-star hotel located within their DOSE project on the North Coast.
The announcement was made by the JV’s board member Abdulwahab Al Rajhi at an event in Cairo.
Company chairman Essam Mansour told Zawya Projects that the 300-key hotel will be the first VOCO-branded property on the North Coast.
He didn’t disclose the costs but said the hotel would start operations in 2026.
CEO Edrees Mohamed said they are planning to launch branded residences within the DOSE project but didn’t elaborate. He added that DOSE would also include a 9-acre entertainment area.
Speaking at the event, Ahmed Essa, Egypt’s Minister of Tourism said that the government is focussed on attracting more private sector investments in hotel projects, adding that Egypt needs 500,000 keys by 2028.
AkamAlRajhi Developments, a joint venture between Egypt’s Akam Developments and Saudi’s AlRajhi Group, launched the DOSE project last year at an estimated investment of about 8 billion Egyptian pounds ($259 million).
The 125-acre project, which would be completed in four phases, includes chalets, standalone villas, twin-townhouses, and serviced units.
Cairo-based K&D Designs and United States-based SB Architects are the architectural consultants for the project.
Read more: Arkan Palm and IHG Hotels & Resorts expand partnership to develop two new hotels in West Cairo
(1 US Dollar = 30.90 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
