Arab Finance: PARAGON | ADEER has signed an agreement with Hilton to open Canopy Cairo SumouBlvd and Canopy Residences Cairo SumouBlvd, marking the lifestyle brand’s debut in the Egyptian capital.

Scheduled to open in 2030, Canopy Cairo SumouBlvd will feature 105 guestrooms, alongside several dining venues, including a street-front café, a signature restaurant, and a destination bar.

The hotel will also offer a range of amenities, including a spa, fitness facilities, meeting and function rooms, and an outdoor swimming pool.

Meanwhile, Canopy Residences Cairo SumouBlvd, located adjacent to the hotel, will comprise 122 residential units, ranging from studios to one-, two-, and three-bedroom apartments.

Residents will have access to dedicated amenities, including a private swimming pool and terrace, fitness facilities, a studio, and thermal facilities.

Bedeir Rizk, CEO of PARAGON | ADEER, commented: “SumouBlvd was conceived around culture, innovation and wellbeing, and Canopy gives each of them a place to be lived. As the destination’s first anchoring hotel, Canopy will be where these ideas meet people. Set within a $1.4 billion destination backed by Egyptian development expertise and Saudi investment through Sumou Investment, it reflects both the Cairo of today and the city it is becoming.”

“Bringing Canopy to SumouBlvd reflects our vision of creating integrated destinations that combine international expertise with local insight. With Egypt’s tourism revenues projected to exceed $20 billion by the end of 2026, the hospitality sector presents significant investment opportunities,” noted Bassel El-Serafy, Founder and CEO of Adeer International.

In October, PARAGON | ADEER announced a strategic partnership with Befit, Egypt’s largest fitness community, valued at $67 million (EGP 3.5 billion) to develop Befit Living.