Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony of an agreement at the government headquarters in New Alamein between Marriott International and Misr Italia Properties and People & Places Developments to develop nine hotels and resorts comprising more than 1,800 hotel rooms and suites across Egypt’s most prominent coastal and urban destinations.

The ceremony was attended by Sherif Fathy, Minister of Tourism and Antiquities; Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Walid Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for Urban Communities; and Eng. Adel El-Naggar, Vice Chairman of Misr Italia Properties.

The agreement aims to expand Egypt’s hospitality offerings and enrich luxury living options in line with the state’s vision to strengthen the tourism sector and reinforce Egypt’s position as an attractive destination for international investment. The partnership includes the launch of five mixed-use developments featuring 11 hotels, residential projects, and a standalone hotel across prestigious coastal destinations and rapidly growing cities nationwide.

The agreement was signed by Shady Hassan, Vice President for Hotel Development – North Africa at Marriott International; Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties and Co-Founder of People & Places Developments; and Karim Khaled El-Assal, CEO and Managing Director of Misr Italia Properties and Co-Founder of People & Places Developments.

Following the signing, Prime Minister Madbouly stated that the agreement represents another step in implementing the state’s strategy to boost tourism investments and expand hotel capacity in line with the rapid growth of Egypt’s tourism sector.

He added that the agreement reflects the private sector’s confidence in Egypt’s investment climate while enhancing the quality of hospitality services and meeting the growing demand for Egyptian tourist destinations. It also supports the state’s goals of attracting more tourists, increasing the tourism sector’s contribution to the national economy, creating new job opportunities, and driving development across the country.

Growing Confidence in Egypt’s Tourism Destination

The Minister of Tourism and Antiquities affirmed that the signing of the agreement reflects the growing confidence of investors and leading international hotel management companies in Egypt’s tourism destination. He noted that this demonstrates the attractiveness of the Egyptian market and its sustained growth, supported by the government’s efforts to create a competitive and investment-friendly environment.

The minister explained that tourism remains one of the state’s top priority sectors through the adoption of investment-supportive policies and continuous engagement with proposals that accelerate tourism development and increase hotel capacity in line with the anticipated growth in inbound tourism.

He added that one of the key pillars of the ministry’s current strategy is enhancing the competitiveness of tourism investment to attract both domestic and international investments, expand hotel capacity, improve service quality, and support the state’s tourism development objectives.

Minister of Housing Eng. Randa El-Menshawy emphasized that the government places great importance on developing tourism and hospitality investments in new cities as one of the main pillars for maximizing the value of the urban infrastructure established over recent years. She noted that Egypt’s new cities now possess advanced infrastructure and high-quality road and utility networks, making them well-positioned to attract more of both local and foreign investments in this vital sector.

She explained that the ministry is working to provide diverse investment opportunities for hotels and tourism and entertainment projects tailored to the unique characteristics and competitive advantages of each city, particularly coastal cities and those with cultural and recreational attractions. She stressed that expanding such investments will create new jobs, increase occupancy rates, stimulate economic activity, and improve the quality of life in new urban communities.

Eng. Randa El-Menshawy further stressed that the ministry will continue strengthening partnerships with the private sector and providing all necessary support and incentives to investors to ensure the swift implementation of tourism and hospitality projects in accordance with the highest standards of quality and sustainability.

She added that maximizing returns from real estate and tourism assets in new cities is a key ministry objective that will contribute to supporting the national economy and reinforcing Egypt’s position as a regional and global investment and tourism destination.

For his part, Shady Hassan, Vice President for Hotel Development—North Africa at Marriott International, stated that the Egyptian market is one of the company’s strategic markets due to its strong tourism potential, continuous infrastructure development, and increasing demand for luxury hospitality services and internationally branded residences. He added that the agreement reflects Marriott International’s long-term commitment to Egypt and its confidence in the continued positive growth of the tourism and hospitality sectors.

Hassan added that through cooperation with Misr Italia Properties and People & Places Developments, Marriott International aims to introduce a distinguished portfolio of hotels, resorts, and internationally branded residences across several of Egypt’s leading tourist destinations, supporting the competitiveness of both the tourism and real estate sectors while enhancing service quality.

Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties and Co-Founder of People & Places Developments, stated that the hospitality sector represents one of the company’s key pillars for expansion and sustainable growth.

He noted that the company’s investments exceed EGP 56.7 billion and that the ambitious expansion plans of Misr Italia Properties and People & Places Developments are expected to create approximately 6,000 direct and indirect jobs in the hospitality sector while targeting nearly 373,000 tourists annually, supporting the state’s efforts to develop tourism and maximize its contribution to the national economy.

He further emphasized that the partnership with Marriott International is one of the cornerstones of the company’s vision for the hospitality sector. He noted that the collaboration has already resulted in a portfolio of more than 1,800 hotel rooms and internationally branded residential units across several distinguished destinations throughout Egypt.

He added that Marriott International’s global expertise and the strength of its brands will help deliver world-class hospitality experiences while enabling the company to implement its expansion plans in line with the state’s objectives for developing the tourism sector.