Qatar to Purchase 30% Stake in Seven Iconic Hotels in Egypt

The Qatar Sovereign Fund is in talks with Egypt about the possibility of investing in 7 historic hotels in what could be a historic deal between the two countries.

Reuters reported, citing two people familiar with the matter, that the Qatari Investment Authority was in talks with the Egyptian sovereign wealth fund regarding a deal.

The sources added that the fund is considering acquiring up to a 30% stake in hotels.

Seven hotels: Cairo Marriott Hotel, Steigenberger Tahrir Hotel in Cairo, Marriott Mena House in Giza, Sofitel Legend Old Cataract in Aswan, Movenpick Aswan and Sofitel Winter Palace in Luxor, and Steigenberger Cecil Alexandria. according to Reuters.

Source: Reuters.

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