Chairman and Chief Editor
Bedour Ibrahim

Deliveries in Project 205 will begin in 2026

Arkan Palm collaborates with IHG to manage third hotel in Sheikh Zayed's Project 205 Under "Holiday Inn Express" Brand

Sunday 23/June/2024 - 05:18 PM
أصول مصر

Major banks and financial institutions have praised Project 205، expressing their readiness to provide financial facilities

Investments in Project 205 exceed $600m، with completion expected by 2031، says Amr Badreldin

Deliveries in Project 205 will begin in 2026، with 60% of the first phase already completed، says Ahmed Badreldin

Project 205 will bring a 5-star hotel experience to Egypt، says Haitham Mattar


Continuing their successful collaboration، Arkan Palm has announced its partnership with the global hotel and resort group IHG to build and manage a third hotel within Arkan Palm project، 205، the largest mixed-use project in Sheikh Zayed City، west Cairo.

The new hotel within 205 project will be managed by IHG under the renowned "Holiday Inn  Express" brand. This marks the third collaboration between Arkan Palm and IHG within the heart of 205 project following last year's agreements for InterContinental West Cairo 205 and Voco West Cairo Hotel Apartments.

Enhancing hospitality offerings

This ongoing partnership underscores Arkan Palm's commitment to enhancing hospitality offerings within its ambitious mixed-use development، catering to both local and international guests seeking premium accommodations and services.

The new collaboration contract was signed by Eng. Amr Badreldin، Managing Director of Arkan Palm، and Mr. Haitham Mattar، Managing Director، India، Middle East & Africa، IHG. The signing ceremony took place in the presence of senior executives from both companies، as well as representatives from the Investment Authority and several banks including Egyptian Arab Land Bank، Misr Bank، United Bank of Egypt، Arab African International Bank، Suez Canal Bank، and Commercial International Bank (CIB). Also attending were leaders from the financial group Hermes Holding، CI Capital، along with numerous public figures and businessmen، including Mr. Mohamed Farouk، Chairman of Mobica، and the project's success partners from consulting firms such as Dar Al Handasah، Eng. Raaf Fahmy، Eng. Khaled Kozou، and Eng. Shadi El Ghanemi. Dr. Adel Talaat، Chairman of Al Safaa Medical، also participated in the event.

During the signing ceremony، banks and financial institutions expressed their admiration for 205 development and the rapid progress achieved in its implementation. They commended Arkan Palm for meticulously attending to every detail to deliver a project with international standards، modern and sustainable technologies. Financial institutions and banks also expressed readiness to collaborate with Arkan Palm by providing facilities and financing for the project، believing in its ability to provide added value that attracts more global investments and tourists from around the world.

Eng. Amr Badreldin، Managing Director of Arkan Palm، stated that the new collaboration with IHG and the emphasis on diversifying hotel brands in 205 project reflects the company's commitment to offering a unique and exceptional experience that meets diverse needs and tastes. He emphasized that this endeavor contributes significantly to adding value to the Egyptian market.

He added that 205 project represents an integrated city and downtown area for West Cairo، spanning over a built-up area exceeding 1 million sqm above ground، with over 800،000 sqm of underground parking spaces. He emphasized that the project's investment size has exceeded $600m، with plans to complete its implementation according to the contract signed with the Ministry of Housing by 2031. The first phase is scheduled to commence delivery and opening in 2026.

He explained that the company is introducing a new experience in sustainability and green architecture with the project، incorporating the latest technologies to reduce energy consumption and harmful carbon emissions. This includes the establishment of a solar power station costing 10 million dollars and a cooling station costing around $50m.

Eng. Ahmed Badreldin، Chairman of Badreldin Construction، stated that Badreldin companies are committed to collaborating with leading global brands and institutions. 

He highlighted the successful partnership with IHG in the Crowne Plaza West Cairo-Arkan hotel، the first Crowne Plaza hotel in Egypt.

Excavation work started

He mentioned that excavation work has commenced on the first hotel in 205 project، the InterContinental West Cairo 205، which is scheduled to open in 2027. 

He noted that approximately 60% of the first phase of 205 project، covering about 400،000 sqm، has been completed. Deliveries of apartments and office spaces will begin in 2026، along with the operation of the commercial area.

205 project spans 205 feddans in Sheikh Zayed City and is a mixed-use development comprising residential، hotel، commercial، administrative، recreational، and medical facilities. It features a southern frontage of one kilometer directly on 26th of July Corridor and a northern frontage of 1.2 kilometers on Al Bustan Street in Sheikh Zayed City، home to renowned landmarks such as Arkan and Americana Plaza. The project has a building density of only 30% and includes a two-kilometer-long، ten-meter-wide river that separates the residential and service areas. The development also boasts a tower zone with the tallest tower in West Cairo، exceeding 150 meters in height.

For his part، Haitham Mattar، President of IHG Hotels & Resorts for India، the Middle East، and Africa، expressed his pleasure at signing a new cooperation agreement with Badreldin companies through Arkan Palm. He noted that this partnership follows their successful previous collaboration، which delivered a pioneering experience and enhanced the portfolio of luxury hotels managed by IHG.

Shared expertise

Mattar added that there is alignment in vision between the two parties، along with mutual trust and shared expertise، which drives the commitment to providing the best service and value. 

He highlighted that IHG manages around 6،000 hotels worldwide and is diligent in studying projects thoroughly before entering into any partnership، ensuring that each project adds significant value. This aligns with Project 205، located in the heart of Cairo، near many famous tourist landmarks such as the Pyramids and the Egyptian Museum، making it akin to "Egypt in a 5-star hotel."

He pointed out that the company currently manages around 9 hotels in Egypt، with 12 more under construction. The company aims to manage about 30 hotels within the next 5 to 6 years. He emphasized that the Egyptian government has been keen on developing the infrastructure، tourist attractions، and airports to restore Egypt's leading position in tourism، which has spanned hundreds of years. He expects a significant revival in the tourism sector in the coming period.