Al Naser Developments has signed an agreement with Radisson Hotel Group to manage the hotel component of its latest project in Egypt’s New Capital.
The agreement was signed at Al Naser Developments’ headquarters in the New Capital in the presence of representatives from both companies, along with real estate developers, consultants and professional advisers.
According to the company, the agreement marks Radisson Hotel Group’s first presence in the New Administrative Capital and forms part of Al Naser Developments’ plans to expand its hospitality-related developments.
Naser El Tabakh, Chairperson of Al Naser Developments, said the partnership is intended to bring international hotel management expertise to the project and support the company’s approach to developing mixed-use and hospitality assets.
He added that the company is seeking to incorporate professional management and operations into its hospitality projects, particularly as the New Administrative Capital develops as a business and investment destination.
Radisson Hotel Group operates and develops more than 1,640 hotels across more than 100 countries, according to the company.
Ayman Ezzeddine, Senior Director of Development at Radisson Hotel Group, said the partnership supports the group’s expansion in Egypt and noted the New Administrative Capital’s potential as a business and hospitality destination amid ongoing urban development and investment activity.
Al Naser Developments said the new project is its third development in the New Capital and fourth project in Egypt.
The company has worked on more than 150 projects for international companies, with total executed projects exceeding $2bn, according to the company.
Al Naser was among the early developers to enter the New Administrative Capital and has delivered and begun operating projects there.
The agreement comes as Egypt continues to attract international hospitality operators and developers as part of efforts to expand hotel capacity and support tourism and business activity.
