Cairo: Prime Minister Mostafa Madbouli witnessed the signing ceremony of a strategic Memorandum of Understanding (MoU) between ADD real estate company, a subsidiary of Sami Saad Holding Group, and Hyatt Hotels Corporation, in the presence of Tourism and Antiquities Minister Sherif Fathy. The event took place on Tuesday, June 17, 2025, and is aimed at boosting the accommodation capacity of hotel rooms to meet the anticipated increase in tourist numbers visiting Egypt through the expansion of branded hotel and residential investments in key areas across the country.

According to State Information Service Egypt, the Prime Minister welcomed the partnership, praising the cooperation that supports Egypt's status as a global investment and tourism destination. He emphasized the importance of strengthening partnerships between local and international private sector companies to achieve comprehensive development in the hotel and real estate sectors.

Tourism Minister Sherif Fathy remarked that the MoU reflects the confidence of major international institutions in the future of Egypt's economy and the capabilities of its tourism market, which is experiencing promising growth. He highlighted that the agreement is a crucial step in expanding the hotel and branded residential unit capacity to accommodate the expected rise in tourist numbers.

The minister assured that the Tourism Ministry fully supports these high-quality investments, which combine international standards with Egypt's distinctive character. He pointed out that such projects contribute to offering innovative hospitality experiences that meet the expectations of tourists worldwide, while showcasing Egypt's cultural and artistic uniqueness.