Millennium Hotels and Resorts, a global hospitality management group, has partnered with Nile Developments to announce the launch of Tycoon Tower, Africa’s highest hotel in Downtown New Administrative Capital of Egypt.
The New Administrative Capital project is not only a real estate project, but also opens new horizons for investment in many other economic sectors and investment in the education, health, and infrastructure sectors.
Mahmoud Taher, Chairman of Nile Developments, revealed a new partnership with Millennium Hotels and Resorts, to operate and manage “Tycoon Tower” hotel – a global hotel group with over 150 hotels around the world, and entering Egypt and Africa for the first time.
Taher stated: "Tycoon Tower is 233 meters high, and it is an exceptional real estate project that will set a new global standard as Africa’s highest hotel. The new hotel – one of Nile Business City towers and the largest project of Nile Developments so far- is deemed as a historical addition to NAC’s Downtown area.”
He also pointed out that Nile Developments is the first Egyptian private real estate developer to specialize in developing skyscrapers, which started its operations in 2021 in NAC’s Downtown area, adding that the company has studied the return on investment (ROI) of such projects and found that buildings of 60 floor height at maximum have a large economic return and is an added value for buyers.
Mahmoud Taher, Vice Chairman of Nile Developments, said that the launch of the Tycoon Tower project has seen a healthy demand from clients and real estate brokers, who expressed their great admiration for the project and confirmed that it will be a pinnacle of the tourism real estate investment sector.
Mahmoud added: “Tycoon Tower” is accessible from all major axes, as it is strategically located in the middle of the Downtown area and is close to 80% of NAC’s landmarks. The building has a stunning design, modern interiors, and an infinity pool on the roof that will provide picturesque 365-degree views of the Downtown area and the entire NAC, since it directly overlooks the Green River and has all the luxurious facilities, alongside being called “the golden point of the New Capital” …all this makes it attractive to residents and international visitors.”
Fahad Abdulrahim Kazim, Chief Executive Officer, Millennium Hotels and Resorts MEA, said: "“We are delighted to sign an agreement with respected developer Nile Developments as we mark our entry into Egypt. The New Administrative Capital is an exciting and visionary project that will create a major business and tourism hub in the region. Both Egypt specifically, and Africa broadly are an integral part of our growth strategy, and we look forward to this project as the beginning of our expansion across the continent.”
Stephen Kamat, Vice President Brands, Marketing and Communications, Millennium Hotels and Resorts MEA, said: “We are delighted to bring our international flagship 5 star brand “Grand Millennium” to Egypt. It perfectly complements this exciting project in the heart of the New Administrative Capital. Our hotels have great locations around the world and this project marks another prestigious address to add to our portfolio.”
Nile Developments cooperates with international experts on its state-of-art projects according to the latest international standards in design and construction. It is the first Egyptian company to contribute with a specialized contractor in developing skyscrapers at the size of SIAC company, alongside joining hands with industry veterans including “Moharram Bakhoum” company and Imad El-Sherbiny, who supervised the construction of some of the most famous and highest skyscrapers in Dubai and Saudi Arabia.
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