Business | Tourism
Shuaa Capital signs deal to build and operate hotels in Egypt
Orascom Hotel Holdings, an Egyptian hotel operator, said it will join Shuaa Capital to build and operate five hotels, catering for businessmen in Egypt.
- Bloomberg
- Published: 18:02 May 8, 2008
Cairo: Orascom Hotel Holdings, an Egyptian hotel operator, said it will join Shuaa Capital to build and operate five hotels, catering for businessmen in Egypt.
The project will have a total investment of $125 million, the Cairo-based company said in statement to the Cairo & Alexandria Stock Exchanges.
Orascom will have a 51 percent stake in the project, the company added in the statement.
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
