20 April 2011
The Saudi Egyptian Touristic Development company, owner of Grand Hyatt Cairo and Sheraton Hurghada held a press conference to announce the new cooperation agreement with Ahli United Bank for investments of $ 520 million US dollars externally and internally. Also a value of $ 55 million dollars is fully allocated to renovate Grand Hyatt Cairo in addition to increasing the capacity of the hotel with the largest and most luxurious suite in the Middle East on the 38th and 39th floors. Additional investment of $ 70 million US dollars is allocated to renovate the old hotel building (formerly Le Royal Meridien). Also a sum of US$ 200 million will be furnished upon request from a total of US$ 400 million when the formerly Sheraton Hurghada total area of land will be restored.
The press conference was attended by HE Ahmed Abdel Aziz Kattan, Ambassador of Kingdom of Saudi Arabia, HE Sheikh Mashhour Abdel Aziz Al Ibrahim, representing Al Anwaa holding company (the mother company of investments in Egypt), Nagy Aboul Ela, Vice President of the Investment Authority, and Nevin El Messiri CEO and Managing Director of Ahli United Bank in Egypt, Abdel Aziz Al Shohail Member of the Board of Directors and Senior Advisor for International Investments, Hussein Sabbour, Chairman of Sabbour Construction, in addition to top media and press figures.
The Saudi Egyptian Touristic Development company, owner of Grand Hyatt Cairo and Sheraton Hurghada held a press conference to announce the new cooperation agreement with Ahli United Bank for investments of $ 520 million US dollars externally and internally. Also a value of $ 55 million dollars is fully allocated to renovate Grand Hyatt Cairo in addition to increasing the capacity of the hotel with the largest and most luxurious suite in the Middle East on the 38th and 39th floors. Additional investment of $ 70 million US dollars is allocated to renovate the old hotel building (formerly Le Royal Meridien). Also a sum of US$ 200 million will be furnished upon request from a total of US$ 400 million when the formerly Sheraton Hurghada total area of land will be restored.
The press conference was attended by HE Ahmed Abdel Aziz Kattan, Ambassador of Kingdom of Saudi Arabia, HE Sheikh Mashhour Abdel Aziz Al Ibrahim, representing Al Anwaa holding company (the mother company of investments in Egypt), Nagy Aboul Ela, Vice President of the Investment Authority, and Nevin El Messiri CEO and Managing Director of Ahli United Bank in Egypt, Abdel Aziz Al Shohail Member of the Board of Directors and Senior Advisor for International Investments, Hussein Sabbour, Chairman of Sabbour Construction, in addition to top media and press figures.
The Conference was held at Akhnaton ballroom followed by lunch at Farhaty ballroom famous for its breathtaking views of the Nile. All attendees were impressed by the quality of service and the hospitality that was provided by Grand Hyatt Cairo's team during this important event.
-Ends-
Contact
Sherry Adel
Marketing Communications Manager
Grand Hyatt Cairo
Phone: +202 - 23651234
Mobile: +2 012 210 5850
Email: sherry.adel@hyatt.com
© Press Release 2011
