Al-Borouj Misr signed Movenpick Hotel with Sixty Iconic Tower, managed by Accor Global

Eng. Mohamed Assy - Vice Chairman of the Board of Directors: The contract supports the company's vision in diversifying its investment portfolio and confirms the strength of its financial solvency

20 thousand meters sold at a value of 1.5 billion pounds borne by the company in full for hotel services in order to obtain the hotel brand "Movenpick"

About 75% of the units of the Sixty Iconic Tower project were sold at a value of 2 billion pounds in 7 months

Our goal is to double the investment and environmental value of our customers, That is why we are always keen to choose our partners

We're doing 6 projects in the New Capital, and we're pumping 3.5 billion pounds in construction work so far

In 2022, various projects will be implemented to complement our pioneering role in the Egyptian market

Al-Borouj Misr for Real Estate Development has signed the Mövenpick Hotel in the sixty iconic tower with Accor, the international company specialized in hotel and tourism management, Which owns more than one brand in the world of hotels: Fairmont, Sofitel, Rafael's, Rixos, Novotel, to be the first five-star hotel for the private sector in the New Capital.

The most significant project is Sixty Iconic Tower, located in Egypt's New Capital, at 13,000 square metres, with a height of 45 floors, plus 5 underground parking floors, opposite the CBD, where the iconic tower is located.

Eng. Mohamed Assy, Vice Chairman of the Board of Directors of the Al-Borouj Misr Company, confirmed during the press conference held by the company to announce this alliance the forces between the Al-Borouj Misr Company and Accor International, one of the largest leading companies specialized in operating the strongest hotel signs in the world, which is followed by about 240 million people worldwide that this contract comes within the framework of the company's vision and strategy based on the diversity of its investment portfolio and the choice of the largest partners globally to provide all its project services, whether operational, engineering or executive, in order to enhance The investment and sales value of all units in all their real estate projects is doubled and their value added is increased.

With this contract, he added, Movenpick Tower is considered to be the first private five-star hotel in the New Capital, noting that it had taken the company about eight months to achieve its primary objective of providing a world-class "hotel" with 190 key hotel capacity in the last ten roles of Sixty Iconic Tower, In addition, Movenpick managed the hotel units sold to the customers on the project.

It asserted that this contract also reflects the firm's strong solvency and its first and final interest in quality and continuity. Evidence of this is the completion of the sale of about 75% of the project units with a sales value of about 2 billion pounds since its launch on the market and only seven months later.

The company has 6 projects in its capital and has injected 3.5 billion pounds construction works for its projects in the capital, explaining that the management of the entire company, starting from the chairman of the board of directors to the youngest employee of the company, works day and night in order to complete various projects that enjoy added value and achieve huge investment returns, indicating that the company is ready to provide new projects for the real estate market by the beginning of 2022 It will be a surprise to complete its leadership role always in implementing different and unique projects in the Egyptian market, said Mohammed Al-Assy.

Franck Nabulsi, Vice President of Operations and Business Development at the Accor Group for Hotel Brand Management, commented that they are very happy to sign this contract, To manage the Movenbeck brand in one of the most important real estate development companies in the Egyptian market, they have two very strong technical and engineering studies in designing and implementing their projects and what needs each project requires and planning for it before implementation.

He pointed out that the Accor company manages a number of international hotel brands in Egypt, such as Fairmont, Sofitel, Rafael's, Rixos, Novotel, The contract for Accor with the tower company represents the third that was signed in the New Capital and the first with a private company in the New Capital, pointing out that they aim to contract the establishment of 20 international hotel brands in Egypt within the next five years.

It is worth noting that the Sixty Iconic Tower project has a total investment value of EGP 3 billion, and it will be implemented within 3 years, The tower is 13,000 square meters high and 43 floors high, The tower will be built on 60% of the land, and the natural area will reach more than 55,000 square meters.

Sixty Iconic Tower is an administrative - commercial - hotel project, "located in the area opposite CBD where the iconic tower, Africa's tallest, is located.

The company has contracted the English consulting office DSA Architect International, which has more than 35 years of experience in the field of tower and skyscraper design, to design the project.

The office is distinguished by its specialization in the field of towers, and has designed more than 66 towers and skyscrapers around the world, and has 7 offices around the world, including the Emirates, Portugal, Belgrade, Britain and Johannesburg.