Engineer Fady Abdallah, CEO of Urbanlanes, said that the agreement represents the beginning of future cooperation between the two parties on multiple projects in the local and regional markets. He explained that this agreement is the first of its kind in the Egyptian market and supports the country's tourism goals.
Abdallah indicated that there is a significant shortage
in the number of hotels and hotel rooms in Egypt, with the number of available
units currently standing at approximately 250,000, built over many years, a
number that does not match the current and expected tourist flows. Therefore,
the company is focusing on supporting the hospitality sector in Egypt through
partnerships with companies such as Abu Dhabi Capital Group.
He pointed out that Egypt possesses all the elements that qualify it to be a global leader in tourism and hospitality, especially after the major developments in infrastructure and the strong government focus on the tourism and antiquities sectors. He added that the full opening of the Grand Egyptian Museum next July will be a milestone.