ArabFinance: Holding Company for Tourism and Hotels Chairman, Mervat Hataba, announced that Al Sharif Holding Group (ASG) reached a deal with Mandarin Oriental Hotel Group to manage the Shepheard Hotel, Masrawy reported.

Hataba noted that the deal encourages Arab and foreign investment in Egypt.

Earlier, ASG signed An EGP 978.2 million long-term financing contract with the National Bank of Egypt (NBE) to renovate and upgrade the Shepheard Hotel.

ASG is a Saudi company established in 1980. Grounded in meticulous planning, prudent management and group effort, ASG has become a leader in providing energy through distribution and transmission.

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