Investment of $100 Million: Abu Dhabi Tourism Investment Company Signs Agreement with Accor to Manage Sofitel Legend Hotel Next to the Grand Egyptian Museum

كتب : محمود حاحا ـ بوابة الاقتصاد

The Abu Dhabi Tourism Investment Company, owned by the Abu Dhabi Development Fund, has signed an agreement with French hospitality group Accor for the management and operation of the Sofitel Legend Pyramids Hotel in Giza.

Yahia Kotub, CEO of Abu Dhabi Tourism Investment Company, announced that the company has allocated approximately $100 million for the establishment of the hotel near the Grand Egyptian Museum, noting that this investment does not include the value of the land.

Kotub confirmed that the agreement with Accor will see the management and operation of the hotel under the Sofitel Legend brand. Construction of the hotel is set to commence in December 2024, with an expected opening date in May 2027, according to the project’s execution schedule.

“This day marks a significant milestone for Abu Dhabi Tourism Investment Company, and we are proud to expand our portfolio in Egypt,” said Kotub. He expressed excitement about the partnership with Accor, stating, “We are pleased to announce the signing of the Sofitel Legend Pyramids Giza hotel agreement.”

He emphasized that this renowned luxury brand will deepen its connection to history and heritage in one of the most exceptional locations in the world, the Pyramids area. The architectural landmark will be situated directly across from the iconic Giza Pyramids and the Grand Egyptian Museum, featuring 303 elegantly appointed rooms that provide stunning views of the pyramids. Guests can look forward to world-class dining options and exclusive wellness facilities, all infused with the timeless elegance of the Sofitel Legend brand.

“By merging French luxury with Egypt’s rich heritage, we are excited to redefine the luxury travel experience in Giza, with the hotel expected to open its doors in 2027,” Kotub added.

It is worth noting that Abu Dhabi Tourism Investment Company is 84% owned by the Abu Dhabi Development Fund, with 10% held by the Abu Dhabi National Hotels Company, while the remaining shares are owned by the Ministry of Public Business Sector through its tourism and hospitality companies. The company boasts a diverse portfolio of hotels, including Movenpick Sharm El Sheikh and Mercure Hurghada, with the Sofitel Legend Pyramids being the third hotel set to begin construction in December 2024.