Arab Finance: Misr Italia Properties has signed a landmark agreement with Marriott International to develop and operate 1,041 hotel rooms and branded residences across Egypt’s attractive destinations, according to a statement.

The partnership will introduce several Marriott brands across key developments in Ras El Hekma, New Cairo, the New Capital, and Ain Sokhna.

Solare Ras El Hekma will feature 430 hotel rooms and branded residences, while Garden 8 in New Cairo will include 100 hotel rooms and branded residences.

In the New Capital, Il Bosco will comprise 260 hotel rooms and branded residences under the Westin Hotels & Resorts brand, in addition to Marriott Executive Apartments.

Meanwhile, Kai Sokhna on the Red Sea coast will include 200 hotel rooms and branded residences operating under the Autograph Collection Hotels brand.

With a combined portfolio of 1,041 keys and total investments of EGP 11.3 billion, the projects are expected to strengthen Egypt's luxury hospitality sector and enhance the tourism infrastructure.

In June, Misr Italia Properties acquired Misr Italia Holding for Financial Investments and subsidiaries by Khaled El Assal, Mohamed Khaled El Assal, and Karim Khaled El Assal.

The group plans to open 21 hotels by 2032, with a total of 3,214 rooms, in partnership with international hospitality brands.