The deal, signed between the state-owned Egyptian General Company for Tourism and Hotels (EGOTH) and Indian Hotels Company Limited (IHCL)—a subsidiary of the Tata Group—marks the first presence of the Taj brand in Egypt.
The Continental Hotel, originally built in 1870, is a
cornerstone of "Khedivial Cairo." Under the new partnership, the
restoration of the project began in Q2 2025 as part of a broader state plan to
revitalize downtown Cairo. The site will be transformed into a five-star hotel
with approximately 300 rooms. Shimi emphasized that the renovation will
preserve the building’s authentic architectural character and historic facades
while integrating modern luxury standards.
During a meeting with Indian Ambassador Suresh Reddy and
IHCL CEO Puneet Chhatwal, Shimi stated that the ministry is pursuing
partnerships with local and foreign private firms to maximize the economic
return on state-owned assets.
"The entry of the Taj brand reflects growing
international confidence in the Egyptian economy and its tourism investment
climate," Shimi said. He added that the Holding Company for Tourism and
Hotels possesses a diverse portfolio of historic properties that offer
promising opportunities for major global brands.
The move is seen as a pivotal step in repositioning Egypt on the global map for heritage and luxury tourism by collaborating with partners who have a proven track record in managing high-end, historic hotels.