Mubasher: The Abu Dhabi Fund for Development (ADFD) has launched the Sofitel Legend Pyramids Giza project in Egypt, with investments of AED 440 million ($120 million), Emirates News Agency (WAM) reported.
The launch is a part of the fund’s efforts to support Egypt’s tourism sector and enhance strategic investments, reinforcing the UAE’s commitment to advancing global economic partnerships and supporting sustainable development.
The hotel will feature 302 rooms and will include a selection of international restaurants and entertainment facilities.
ADFD is contributing 84.28% of the project’s capital through the Abu Dhabi Tourism Investment Company (ADTIC).
Abu Dhabi National Hotels owns a 10.22% stake in the development scheme, while Overseas Tourism Investment Company holds 0.4% equity.
Misr Hotels Company owns 2.73%, while the Egyptian General Company for Tourism & Hotels owns 2.37%.
Mohamed Saif Al Suwaidi, Director General of ADFD, said: “Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt.”
