Monday, May 20, 2024

Minor Hotels to debut in Egypt with new Oaks property

Minor Hotels, a hotel owner, operator and investor, currently with a portfolio of 527 hotels and resorts in 55 countries, has announced its upcoming debut in Egypt with the launch of a new build Oaks property.

Scheduled to open in 2025, Oaks Egypt New Capital Apartments & Suites will be located in the heart of the Egyptian New Administrative Capital and will begin construction early next year. The property will bring a total of approximately 400 apartments and suites to the market in this fast-developing new administrative and financial capital.

An industry leader in modern residential-style accommodations, Oaks Hotels, Resorts & Suites provides a home away from home for both savvy corporate travelers and leisure tourists alike. Oaks Egypt New Capital will be housed across two wings, connected centrally at the rooftop and on the ground floor with a spacious retail area. One wing will feature a mix of Suites and Studios, in addition to One-Bedroom and Two-Bedroom branded apartments. The other will feature 203 branded Suites.

Facilities at the property will include multiple restaurants, a lobby lounge, a spa and gym, in addition to meeting and co-working spaces. The property will also have a rooftop pool deck for guests and residents.

Egypt’s New Administrative Capital is a large-scale masterplan launched by the government in 2015. Located 45 kms to the east of central Cairo, the new city will house the entire government, ministries, foreign embassies and the local headquarters of many international companies. The masterplan is amongst the country’s largest programmes for economic growth as set up by the Egypt Vision 2030.

The new property is owned by Margins Development, a private real estate developer with numerous high-end commercial projects in Cairo.

Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels said: “Minor Hotels’ upcoming debut in Egypt is strategically important for the group, continuing to grow our footprint in the MENA region and adding a new country to our portfolio.

“Egypt is well known as a tourism destination for its incredible history and heritage, in addition to being an important business hub. We look forward to launching the Oaks brand in the country’s new capital and we are confident it will bring a great offering to this growing masterplan development.”

Sherif Khalil, Margins Development CEO, said: “Oaks New Capital Apartments & Suites is the first branded residence in the New Capital strategically located at the main spine of the central park with magnificent views of the green river. Minor Hotels are a reputable hotel group worldwide and we are delighted that their first property in Egypt will be in cooperation with Margins Developments.

“We are looking to invest in this relationship with Minor Hotels to launch new properties soon in other areas in Cairo and on the North Coast. Oaks New Capital Apartments & Suites will offer a variety of unit types including Studios, one and two-bedroom units and a wide range of hotel services.”

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