Egypt’s Prime Minister Moustafa Madbouly witnessed on Friday the ceremony of signing a memorandum of understanding (MoU) between Ministry of Housing and Niki Beach Hotels and Resorts, a division of Nikki Beach Worldwide.
Under the terms of the MoU, the global brand will establish and operate a world-class tourist resort in Alamein City, northern Egypt.
The signing ceremony was attended by Minister of Tourism Rania al-Mashat, who praised the partnership during a press conference held at the cabinet’s headquarters in Cairo.
Hailing the deal, the CEO of Niki Beach Hotels and Resorts said that the company’s decision to take over the project was based on extensive studies.
Source: Ahram Online