Palm Hills Developments, the Egyptian real-estate company controlled by billionaire Yasseen Mansour, has signed an agreement with Marriott International to develop a St. Regis hotel-and-residences complex in West Cairo, a project the partners say will benefit from rising interest around the Grand Egyptian Museum.
The property is to be branded The St. Regis Hotel Residences Palm Hills Cairo. Plans call for about 150 guest rooms, 50 serviced apartments and 150 branded residences. The companies did not provide an investment value or an opening date in public statements about the deal.
Palm Hills Chairman and CEO Yasseen Mansour described the agreement as a vote of confidence in Egypts tourism prospects and said the long-anticipated museum opening is expected to draw more cultural travelers to the Giza area. He said the partnership also aligns with government efforts to upgrade tourism services and expand hospitality capacity.
