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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
  • Gulf News

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.

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