Dubai, UAE - Millennium Hotels and Resorts partners with Nile Developments to announce the launch of “Tycoon Tower”, Africa’s highest hotel, poised to become one of the most recognizable landmarks in Downtown New Administrative Capital.
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.
For his part, 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.”
In the same context, 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.”
From his side, Stephen Kamat, Vice President Brands, Marketing and Communications, Millennium Hotels and Resorts MEA, “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.”
It is noteworthy that 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.
It is worth mentioning that Nile Developments is one of the largest real estate developers in the New Administrative Capital, as it owns two of the most important projects in the Downtown area on the tourist towers strip; the most prominent of which is the Nile Business City project (the highest vertical city at a length of 233m), and it consists of four towers including the recently launched: the administrative tower and Nile City Center (the commercial center of the project).
ABOUT MILLENNIUM & COPTHORNE HOTELS
Millennium Hotels and Resorts (MHR) is the global brand of Millennium & Copthorne Hotels Limited (M&C), a global hotel company which owns, manages, and operates over 145 hotels across some 80 locations worldwide throughout Asia, Europe, the Middle East, New Zealand and the United States. Its properties are in key gateway cities such as London, New York, Los Angeles, Paris, Dubai, Beijing, Shanghai, Seoul, Tokyo, Singapore, and Hong Kong. Occupying the best locations around the world, MHR has the perfect address for business and leisure travelers. M&C is the hotel arm of Singapore listed global real estate company City Developments Limited and is a member of the Hong Leong Group.
Millennium Hotels & Resorts, Middle East & Africa currently operates almost 50 hotels and 15,000 keys, in addition to 32 hotels in the development pipeline across the region. From a single property in Abu Dhabi, Millennium Hotels & Resorts, Middle East & Africa has expanded into various neighboring destinations, cultivating partnerships with reputable owners, and is now recognized as one of the fastest growing hotel management companies in the region.
For more information, please visit http://www.millenniumhotels.com/