Emaar Misr, Hassan Allam, Orascom Construction agree to build hotels in North Coast

Emaar Misr for Development has signed contracts with Hassan Allam Holding and Orascom Construction Plc to build two hotels on the North Coast in Egypt.

Under the 1.207 billion Egyptian pounds contract, Hassan Allam will construct a five-star hotel under the name of the international hotel operator ‘The Address’ with 292 rooms and suites at Marassi village in the North Coast, according to a bourse filing.

Meanwhile, Emaar Misr agreed with Orascom Construction to establish a four-star hotel with 214 rooms and suites at a total value of 975 million pounds

The hotel will be built under the name of the international hotel operators ‘Vida’.

Both hotels are expected to be operated in 2023.