| Work Detail |
The tower has achieved 30% completion rate
Egyptian developer Amazon Developments has awarded a management contract to Hilton to manage Capital Diamond Tower’s hotel in New Administrative Capital (NAC), the companys chairman said.
The agreement marks the US-based hospitality giant’s debut in the NAC, Amazon’s chairman Hossam Abu Al-Saud told Zawya Projects.
He said the 5-star property comprises 120 keys, including 72 rooms and 48 one-bedroom suites, adding that additional serviced units would be offered to customers on investment basis.
He disclosed that the hotel is located on the last ten floors of the 234-metre tower, from the 41st to the 51st floor, making it the tallest hotel in Egypt, and is divided into 6 Hilton floors and 4 floors for serviced units.
Mahmoud Al Gharib, vice chairman and CEO of Amazon Developments said 30 percent of the tower’s concrete structure is complete with the company ploughing in 800 million Egyptian pounds ($26 million) for construction works to date.
He added the project’s development to date is self-financed, which reflects the strength of the company’s financial position.
Abdallah Al-Afeef, Managing Director of Amazon Developments said the project is being built in accordance with globally recognised sustainability standards.
He added the company is studying several investment opportunities within the Egyptian market to be announced during the second half of 2024.
(1 US Dollar = 30.90 Egyptian pounds) |
