Egyptian Nozha Group signed a partnership agreement between Nozha Beach, one of the group companies, and Time Hotels to manage Nozha Beach Hotel and Resort Ras Sudr, reported Daily News Egypt. The hotel is expected to open in December.
The four-star hotel has 52 rooms, four suites, and 14 chalets, and 33 additional units will be added to increase the hotel’s capacity before 2019, in addition to 250 rooms by 2021.
Abdallah Al Maghraby, Nozha Group CEO, said that the company might inject USD 168 million in touristic resorts and real estates’ sectors in Cairo and Ras Sudr in Southern Sinai.
Nozha Group has invested over USD 103 million in direct investments in Sinai in the Ras Sudr area only. Nozha Group revealed that it will launch six new projects in the Middle East, in addition to another hotel in Egypt by 2020.
Mohamed Awad Allah, Time Hotels CEO revealed that Time for hotel management would be inaugurating Time Nozha Beach Hotel and Resort by next December. This is considered his corporation’s first beach hotel in Egypt, and is located in Ras Sudr.