Minister of Public Enterprises Sector Mohamed El-Shimy met with Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG), and his accompanying delegation at the Ministry’s headquarters in the New Administrative Capital to review the latest developments in joint hotel investment projects.
The meeting was held within the framework of the state’s strategy to support and develop the tourism sector as a key driver of economic growth, expand hotel capacity, and strengthen partnerships with the private sector.
Discussions focused on prospects for continued cooperation and the progress of major hotel development projects that add significant value to Egypt’s tourism sector, most notably the expansion of the historic Mena House Hotel overlooking the Giza Pyramids.
The project is being implemented through Legacy Company, a partnership between EGOTH—an affiliate of the Holding Company for Tourism and Hotels under the Ministry of Public Enterprises Sector—and ICON, a subsidiary of Talaat Moustafa Group. The development aims to enhance the hotel’s operational efficiency and service quality in line with the highest international standards.
The meeting also reviewed the implementation status of the Four Seasons Luxor Hotel project, which is being developed by ICON on Sultanah Malak land owned by EGOTH and overlooking the Nile River. Discussions addressed progress rates and upcoming work plans, underscoring the project’s importance in reinforcing Luxor’s position as one of the world’s premier cultural and tourism destinations.
During the meeting, Minister El-Shimy reaffirmed the Ministry of Public Enterprises Sector’s commitment to supporting serious investment partnerships—particularly with leading national entities—to develop hotel infrastructure, increase accommodation capacity, maximize economic returns, and advance the state’s objectives for sustainable tourism development.
