Cairo, Egypt – Talaat Moustafa Group Holding, the Egyptian real estate developer, announced the launch of an integrated tourism project near the Grand Egyptian Museum in Giza, through its subsidiary, Arab Hotel and Tourism Investment Company “ICON”, in cooperation with the New Urban Communities Authority.
The investment in the project is estimated at approximately US$788 million, and it is expected to generate a net income exceeding US$82 million annually, in addition to net revenues from real estate sales estimated at approximately US$233 million.
The project includes a luxury five-star hotel with international management, with a capacity of 495 rooms upon completion, a series of restaurants and attached commercial facilities, a commercial area, hotel and administrative units, and an entertainment area that provides an integrated experience for visitors and residents.
This project comes as part of efforts to promote the luxury tourism sector in Egypt, and to transform the area surrounding the Grand Egyptian Museum into an integrated tourist and commercial destination that combines culture, entertainment and high-end hotel services.
