What happened, and who moved.
Qatari Diar has begun the first phase of a major $29.7 billion luxury real estate development project in Egypt.
Qatari Diar has announced the launch of Phase I of its landmark Alam Al Roum mixed-use development on Egypt's North Coast, with first handover scheduled for 2030.
Accor has committed to opening a new ibis-branded hotel property on Egypt's North Coast.
Saudi developer Modon is undertaking a luxury branded residential project on Egypt's coastline.
Qatari Diar, the real estate arm of Qatar's sovereign wealth fund, has engaged a US architecture firm to design a smart city masterplan in Egypt.
ICON, the hospitality arm of Talaat Moustafa Group, completed a capital increase raising its stake in Legacy Hotels Company to a 51% majority (with full management rights), from the Egyptian General Company for Tourism and Hotels (EGOTH) as part of Egypt's state-asset privatization program. Legacy Hotels owns seven historic state hotels across Cairo, Alexandria, Luxor and Aswan -- Sofitel Legend Old Cataract Aswan, Movenpick Resort Aswan, Sofitel Winter Palace Luxor, Steigenberger Tahrir, Steigenberger Cecil Alexandria, Marriott Mena House Cairo and Marriott Omar Khayyam Zamalek -- adding 2,500 rooms to ICON's portfolio. The deal is valued at roughly $800 million upon reaching the 51% threshold.