Abu Dhabi National Hotels possesses a 10.22% stake in the project, Overseas Tourism Investment Company controls 0.4%, Misr Hotels Company holds 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%.
The Sofitel Legend Pyramids Giza project has been initiated by the Abu Dhabi Fund for Development (ADFD) as part of its strategy to enhance investments in Egypt’s tourism industry.
The project, valued at $120 million, will feature a luxury five-star hotel with 302 rooms, equipped with state-of-the-art amenities, as well as international dining options and entertainment facilities.
Financing for the development comes through a strategic collaboration between the private sectors of the UAE and Egypt. ADFD, via Abu Dhabi Tourism Investment Co. (ADTIC), is providing 84.28% of the total project capital.
The remaining shares are distributed among various stakeholders: Abu Dhabi National Hotels owns 10.22%, Overseas Tourism Investment Company holds 0.4%, Misr Hotels Company has 2.73%, and the Egyptian General Company for Tourism & Hotels possesses 2.37%.
The post Abu Dhabi Fund For Development (ADFD) Unveils $120 Million Game-Changing Luxury Hotel Project In Egypt’s Thriving Tourism Sector appeared first on Travel And Tour World.
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