Cairo, 18th of October 2018 – Dr. Abdallah Al Maghraby, Nozha Group CEO, noted that the group is now studying the injection of new investments of around 3 billion EGP in touristic resorts and real estates’ sectors in Cairo and Ras Sudr in Southern Sinai. These projects would be managed by the biggest international corporations specialized in managing touristic resorts and facilities.

Nozha Group organized a ceremony for the signing of a partnership agreement between Nozha Beach, one of the companies of the Group, and Time Hotels for managing hotels and resorts, to manage Time Nozha Beach Hotel and Resort Ras Sudr. During his speech in the ceremony, Al Maghraby said that objective of partnering with Time Hotels, one of the renowned international hotels’ management corporations, aims to achieve a quantum leap in the approach of managing hotels and resorts in Egypt. This would be positively reflected on promoting tourism in Egypt and to transform Ras Sudr to a favorite touristic destination that attracts investments.

Al Maghraby noted that the Egyptian political leadership direction establishing mega projects to link Sinai to the rest of the cities and regions in Egypt through various roads and tunnels increased our confidence to invest in Sinai since 1996. Nozha Group injected more than 1 billion and 850 million EGP of direct investments in Sinai in the area of Ras Sudr only. The objective was to encourage Arab and foreign organizations and businessmen to invest in the tourism sector in Sinai.

Mohamed Awad Allah, Time Hotels CEO, expressed his happiness to cooperate with Nozha Group. He asserted that the group enjoys a distinctive record of business’ achievements. He added that what the group presents in the field of touristic investments represents a strong support to this sector.

Awad Allah revealed that Time for hotel management would be inaugurating Time Nozha Beach Hotel and Resort next December. This is considered the first beach hotel of his corporation in Egypt and is located in Ras Sudr. The hotel, which is 4 stars, consists of 52 rooms, 4 suits, and 14 chalets. Awad Allah pointed out that before 2019, 33 additional units would be added to increase the capacity of the hotel. This in addition to 250 rooms by 2012.

Awad Allah added that Time adopts a strategy for horizontal expansion in tourism management. The group is to inaugurate 6 new projects in the Middle East. This is in addition to another hotel in Egypt by 2020.

Time Nozha Beach Hotel and Nozha Beach Resort in Ras Sudr are located 20 kilometers away from the airport to be established in Ras Sudr and 165 kilometers away from Cairo International Airport. They would contain a group of the most renowned brand names in the field of restaurants and cafes.  This is besides the aqua park that would serving the whole area of Ras Sudr. There would be also cinemas, fitness centers, entertainment facilities, Women and children specified swimming pools, sauna, steam, Jacuzzi, and various sports courts. This is in addition to a conference center fully equipped to suit various events and conferences.

The ceremony was held in Cairo Marriott Hotel with the participation of a group of businessmen, important figures in the tourism field, and many public figures in Egypt and UAE.