PHMG and New Speeco collaborate

PHMG and New Speeco collaborate to manage 50 serviced apartments on Egypt’s North Coast

The Project is located in a prime location in New Alamein, directly overlooking the New Alamein Towers

 Prime Hospitality Management Group (PHMG) has contracted with New Speeco to manage 50 serviced units at the Marina Residence on Egypt’s North Coast

PHMG specialises in managing serviced apartments, also known as holiday homes, basically furnished apartments with hotel service

 

Moataz Amin, CEO of PHMG, said that the project is located in a prime location in New Alamein, directly overlooking New Alamein Towers. It is comprised of 50 units consisting of fully-serviced hotel studios of various areas ranging from 60 sqm upto 150 sqm

There are units also feature services for people with special needs. Moreover, part of the units overlook an outdoor swimming pool and the other part for who are seeking calmness overlooking the resort project gardens

Amin explained that the project is owned by New Speeco and is located in a privileged location with all services available, and it will be the first integrated serviced apartment project in the North Coast at this level

He further noted that the soft opening of the project will be from June 15, with the project set to operate throughout the  whole year and not only in the summer

Amin also pointed out that the first phase of New Alamein city will lead to the area’s full operation throughout the year

PHMG is managing the hotel apartment project, the second under its brand “Prime Residence” following its first project featuring 40 serviced apartments in the Fifth Settlement area of New Cairo

The third project under the Prime Residence brand will be In Sheikh Zayed City in front of Zed Park, whilst the fourth is set to be at Eden Rock project New Giza by 2022

“PHMG plans to expand the Prime Residence brand in New Alamein next year and manage 50 new units, as part of its plan to expand into new areas that do not have this type of high-quality, full-serviced apartments projects,” Amin added, “This is in addition to being in existing markets to manage branded and serviced units according to distinguished Prime standards known locally and internationally”

Atef Ayoub, Chairperson of New Speeco, said that his company specialises in the contracting sector

Established in 2002, it recently decided to invest in the real estate sector in residential, as well as hotel and commercial projects. He also stressed that the cooperation with PHMG brings a new boost to the company, due to its high experience as they are specialised in this field to expand its projects in new areas, reach new customers, and provide distinguished services

Ayoub pointed out that New Alamein will enter a new phase of continuous work and the presence of citizens throughout the year. This comes in implementation of the state’s plan to transform it into a working city throughout the year, and not only during the summer season

He noted that the state’s expansion in development encourages developers to expand in new areas and serve new customers

PHMG undertakes hospitality and full fledge of property management of units whose owners wish to lease them, whether individuals or companies, and achieve a return on investment from them, especially with the group’s expertise in hospitality and property management

The total number of serviced and branded units that the group currently manages is 132 units, distributed among four brands, namely: Prime Residence, Prime Holidays, Prime Inn, and Prime Select. These are located across Egypt, in Cairo, the North Coast, Ain Sokhna, and soon in Gouna