Kuwait’s Boukhamsin Holding mulls $125m investments for new hotel in Egypt

Kuwait’s Bukhamseen Holding is studying a significant investment in Egypt to construct a new hotel worth $125 million, according to a Cabinet statement on Sunday. This move is part of the group’s broader strategy to expand its presence in Egypt’s thriving hospitality sector. During his ongoing visit to Kuwait, Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with Jawad Ahmed Bukhamseen, chairman of Bukhamseen Holding, to discuss the company’s current and future projects in the Egyptian market.

The meeting focused on the group’s ongoing investments in hotel management, finance, and restaurant management, with a particular emphasis on its new hotel development. Minister El-Khatib highlighted the Egyptian government’s commitment to improving the business environment, noting several ongoing reforms aimed at facilitating investment, such as reducing customs clearance times to just two days.

The minister also emphasised Egypt’s efforts to further streamline tax policies and reduce the number of government agencies involved in investment processes to make it easier for investors to operate in the country.

Jawad expressed his group’s strong interest in expanding its operations in Egypt, highlighting the country as a key investment hub in the region. In addition to the new hotel project, Bukhamseen Holding is also working on two new developments in Cairo’s Fifth Settlement area, reinforcing its confidence in Egypt’s promising investment landscape.

Attribution: Amwal Al Ghad English