The Saudi Egyptian Construction company signs with Hilton world wide a management agreement for its new hotel
Darwish Hassanin the CEO of SECON:
“SECON Nile towers project will provide around 2000 job opportunities once the project is completed by year 2016.Design,Management and execution of the project will be by local and foreign experts to ensure high quality and international products”.
The Saudi Egyptian Construction Company (SECON) signed with Hilton Worldwide a management agreement for its new hotel in Maadi nile river sides. Hilton international will carry on management of ‘’ Hilton Cairo –Nile Maadi hotel’’ upon the completion of the construction.
SECON has designed an hotel that meets the interest of business community in addition to tourists taste ; hotel will comprise a total capacity of 257-rooms along with a 400 square meters conference hall, two smaller halls, and three meeting lounges and access to a 24-hour business center. The hotel will also feature a large lobby, spa , swimming pool, two restaurants, and a business lounge.
“The five stars hotel is the first Egyptian-Saudi project of its kind, and will endorse commitment and extend economic ties between Egyptian and Saudi Arabian governments,” said Eng. Darweesh Hasanein, the chief executive officer of Saudi Egyptian Construction Company. Eng. Hasanein, added that the signed agreement is mainly driven by SECON strong confidence in Egypt’s Economic fundamentals and its ability to attract foreign direct investment. He also assured the intention of Saudi Arabia to increase its investments in Egypt to support the economic growth in Egypt despite the economic and political instability that Egypt faces during this transition period.
Eng. Hasanein added that, Egypt will remain capable of attracting local and foreign investments to enhance economic growth rates currently; Ensuring that, SECON will remain insistent to execute its new project despite the current circumstances in Egypt.
Combining collective international, regional and local experts, the new hotel will be managed by, the premium brand, Hilton Worldwide. Hill International will be managing the project until completion, in addition to a joined venture of Egyptian-Emirati contractor alliance of “Arabitiec-Siak” and Egyptian consultant: “EHAF Consulting Engineers”, will act for the supervision of the project. While Egyptian designer : “Space Consulting Engineers” has carried out the full design for the project.
The hotel construction period is scheduled to be 36 months, starting from February 2013 and completed by the beginning of 2016.
The Company will fund 57% of the project cost, and 43% will be financed through a bank loan.
The new hotel, which would be among Cairo’s leading hotels, will greatly improve Egyptian local economy and increase employment rate by creating 2000 new job opportunities in the market.
Hilton Worldwide president middle east area, Rudi Jagersbacher ,expressed great enthusiasm with regard to signing this agreement with SECON, which is a significant part of Hilton Worldwide expansion strategy in Egypt through all the projects done and under progress which reflects Hilton ‘ trust in Egypt ‘s position and the Egyptian community . He also calls for continuous offering of hospitality services for travelers and tourists heading Egypt.
