Arab Finance: Pioneers Properties For Urban Development (PRE Group) plans to sign a series of strategic partnerships with eight leading international hotel brands in the coming weeks to develop and operate eight hotels, according to a press release.

The deals, intended to boost the group’s total hospitality capacity by nearly 10,000 rooms and hotel units, reflect its commitment to providing integrated real estate products as per international standards.

The units will include 4,000 hotel rooms and 6,000 fully serviced hotel apartments, distributed across various locations in Egypt, including Cairo's Hadaba, IVoire East, IVoire West, and BBD projects.

In line with Egypt's vision to increase its hotel sector and support future tourism targets, the EGX-listed firm aims to maximize the investment value of its real estate projects, expanding the market value of assets and ensuring sustainable returns.

The expansion will enrich the customer experience by offering a comprehensive package of upscale hotel services and world-class facilities within the projects, thus elevating the quality of life and lifestyle.

Meanwhile, the company is scheduled to launch the first phase of the Telal El Sokhna project, a three-hotel development scheme. The actual operation of the first hotel will take place within a year and a half.

Furthermore, the development study covers 12 major projects in five key areas, including East and West Cairo, the North Coast, Ain Sokhna, and Marsa Alam. This will enhance the company's flexibility in offering innovative hospitality products that position Egypt prominently on the international tourism map and support the state's plans to expand hotel capacity.

This builds upon a partnership with global real estate advisory firm Colliers to conduct hospitality studies for its hotel and resort portfolio across five destinations and 12 projects in Egypt.