Shuaa Capital signs deal to build and operate hotels in Egypt

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.