Egypt’s Minister of Public Enterprise, Mohamed Shimy, has met with Hisham Talaat Moustafa, CEO of Talaat Moustafa Group Holding (TMG), to discuss enhancing cooperation in major tourism and hotel projects, the ministry said.
The meeting focused on ongoing hotel projects, future expansion opportunities, and ways to strengthen the partnership between the state-owned Holding Company for Tourism and Hotels and TMG, as part of efforts to support public-private cooperation in the tourism and hotel investment sector.
The discussions covered the status of several joint projects, including the Four Seasons Hotel in Luxor. The hotel is being developed by ICON, a TMG subsidiary, on land owned by the state’s Egyptian General Company for Tourism and Hotels (EGOTH) on the banks of the Nile River.
The meeting also reviewed the current status of hotels under Legacy Hotels and Hospitality, a company in which EGOTH holds a stake alongside ICON, and discussed plans for new hotel expansions.
During the meeting, the minister emphasized the importance of partnerships between leading national entities in the public and private sectors. He stressed the need to accelerate the implementation of joint projects in line with the state’s vision to maximise the return on state-owned tourism assets and enhance competitiveness in the regional and international tourism market.
The meeting was attended by legal and advisory officials from the ministry, as well as the managing directors of the Holding Company for Tourism and Hotels and EGOTH.
