The United Arab Emirates’ (UAE) Abu Dhabi Fund for Development (ADFD) has initiated the “Sofitel Legend Pyramids Giza” project, a five-star luxury hotel in Egypt.
The venture is aimed at bolstering Egypt’s tourism industry and fostering strategic investment partnerships.
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With an investment of Dh440m ($120m), this new hotel will offer 302 rooms, and a variety of international dining options and entertainment venues.
The management of the hotel will be under Accor Group, as part of a strategic partnership with Abu Dhabi Tourism Investment Company (ADTIC).
The project receives its financial backing from a collaborative effort between the UAE and Egyptian private sectors, with ADFD providing 84.28% of the required capital via ADTIC.
Other stakeholders in the project include Abu Dhabi National Hotels with a 10.22% share, Overseas Tourism Investment Company at 0.4%, Misr Hotels Company with 2.73%, and the Egyptian General Company for Tourism & Hotels holding 2.37%.
The foundation stone was jointly placed by ADFD director general Mohamed Saif Al Suwaidi, engineer Adel Al-Najjar, Giza Governor Adel el-Naggar, and officials from both nations.
Mohamed Saif Al Suwaidi said: “Sofitel Legend Pyramids Giza” project is a significant step in strengthening Egypt’s tourism sector, offering a world-class hotel experience that underscores our commitment to sustainable investments in promising markets. Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt.”
Strategically situated near iconic attractions, the Sofitel Legend Pyramids Giza is expected to draw international visitors, fresh investment prospects, and contribute to the sustainable advancement of Egypt’s tourism industry.
This initiative aligns with the UAE’s broader strategy to support Egypt’s national development goals and underscores its dedication to furthering the United Nations Sustainable Development Goals, specifically Goal 8 (Decent Work and Economic Growth) and Goal 9 (Industry, Innovation, and Infrastructure).
