Hotel101 Global forms Egypt joint venture with IGI Holding
HBNB•Hotel101 Global signed binding agreements with IGI Holding for a countrywide joint venture in Egypt. The venture will begin with an approximately 750-room hotel in Cairo West, expected to be completed by 2029 and generate a total value of 5.47 billion Egyptian pounds ($102.09 million).
1. Egypt venture
Hotel101 Global signed binding agreements with IGI Holding for a countrywide joint venture in Egypt, marking its first African expansion. The venture will start with Hotel101-Cairo West, an approximately 750-room hotel expected to be completed by 2029.
2. Project value
The project is expected to generate a total value of 5.47 billion Egyptian pounds, or $102.09 million.
