ACUD is set to establish a new subsidiary dedicated to the
hotel sector and has already initiated the necessary procedures. The subsidiary
will manage all new hotels to be developed by ACUD, with a partnership expected
to be formed with an international entity.
The company has devised a plan to increase hotel capacity in
the city, supporting the government’s goal of accommodating the projected rise
in tourist numbers. The government aims to attract around 30 million tourists
annually by 2030 and plans to add 240,000–250,000 hotel rooms to the current
capacity of roughly 233,500.
Engineer Khaled Abbas, Chairman of ACUD, stated that the
company’s plan extends beyond Egypt, establishing subsidiaries internationally.
He highlighted ACUD’s education arm, which manages schools both in Egypt and
across five to six other countries, and partnerships in the water and
sanitation sector with a leading German company.
Abbas explained that the goal is to secure sustainable,
long-term revenues for ACUD after the completion of land sales and projects by
building companies with stable operational returns.
He added that an extensive plan is in place to boost hotel
capacity, covering numerous new projects. Several hotels are currently under
construction by developers, two have been fully completed, one is operational, approximately
eight to ten additional hotels are under construction.