Sharm El-Sheikh:Prime Minister Mostafa Madbouly attended the signing of an agreement for Turkey’s Titanic Hotels to manage a $180 million luxury resort in Sharm El-Sheikh. This marks the launch of the Titanic Luxury Collection brand in Egypt, as announced by the cabinet.
According to State Information Service Egypt, the luxury resort, which is entirely funded by Egyptian investment, features 560 rooms and 60 villas. It is scheduled to begin a trial opening within the next 30 days.
The addition of this high-end resort aligns with Egypt's goal to meet its tourism targets, requiring an estimated 160,000 to 180,000 additional hotel rooms. The cabinet highlighted that the agreement demonstrates Egypt’s increasing attractiveness to international investors in the luxury hospitality sector.
The signing ceremony included Titanic Hotels’ managing director and Hafez Bashir, chairman of Gazal for Real Estate and Tourism Investment, which owns the project. Notable attendees were Tourism and Antiquities Minister Sherif Fathy, South Sinai Governor Ismail Mohamed Kamal, and the Turkish group's chief executive in Egypt.
The cabinet further stated that Gazal selected Titanic Hotels following efforts to attract a prominent Turkish hotel brand. The company is committed to adhering to the brand’s operating standards to deliver hospitality that meets international luxury and quality standards.
Spanning a one-kilometre beach, the resort boasts facilities such as sports grounds, an aqua park, a banquet hall, a spa, and several restaurants, including two international brands debuting in Egypt. It is classified as an ultra-luxury five-star resort, with construction and operational fit-out complete, and final preparations underway for its trial opening.
Bashir noted that Gazal and Titanic Hotels aim to sign management agreements for three more hotels in Egypt, indicating the Turkish group’s confidence in the Egyptian market. In July, Prime Minister Madbouly was present for a separate agreement involving 11 Marriott hotels and resorts with over 1,800 rooms.