Palm Hills Development Company of Egypt announced a new hotel agreement with the U.S.-based Marriott International hotel chain in Cairo, as disclosed on Tuesday. The project, named the Ritz-Carlton Cairo, Palm Hills, is estimated to cost around four billion Egyptian pounds ($129 million).
In a statement to the Egyptian Exchange (EGX), Palm Hills confirmed the signing of the agreement for the luxury hotel. The Ritz-Carlton Cairo is scheduled to open its doors in 2027, featuring 150 guest rooms and 50 serviced apartments, as outlined in the statement.
Palm Hills Chairman and CEO Yassin Mansour expressed enthusiasm about the partnership, stating, “It has an estimated investment of four billion pounds. We would like to welcome Marriott International as our new prominent partner in Palm Hills October.”
