Kuwait's Bukhamseen Group plans $125M hotel investment in Egypt
Updated 2/3/2025 8:07:00 AM
Arab Finance: Kuwait's Bukhamseen Group Holding Company is planning to expand its presence in the Egyptian market by investing $125 million in a new hotel, according to a statement by the Egyptian Ministry of Investment and Foreign Trade.
During his visit to Kuwait, Minister El-Khatib met with Jawad Bukhamseen, chairman of Bukhamseen Holding Group, to discuss the company's current and future projects in Egypt.
The talks also covered the Egyptian government’s efforts to enhance the business climate and attract foreign investment.
The minister highlighted the company's ongoing investments in hotel management, finance, and restaurant management in Egypt.
He reaffirmed the government’s commitment to implementing economic reforms, including reducing customs clearance time to two days and introducing tax reforms to ease financial burdens on investors.
El-Khatib also emphasized efforts to create a more competitive investment environment by simplifying procedures, removing obstacles, and reducing the number of government entities involved in investment projects.
Bukhamseen, in turn, reiterated the group's commitment to expanding in Egypt as a key regional investment destination.
He noted that the company is currently working on two new projects in the Fifth Settlement in Cairo.
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