Arab Finance: Sumou Boulevard by PARAGON Adeer, a mixed-use development in New Cairo, has signed a letter of understanding with Hilton to introduce a new hotel within the project, as Egypt continues to focus on tourism as a contributor to economic growth, as per an emailed press release.
Developed by PARAGON Adeer, Sumou Boulevard is planned as an integrated urban development combining hospitality, residential, cultural, and wellbeing components within a walkable layout.
The project is located in New Cairo’s Mostakbal City, with total investments estimated at EGP 70 billion, equivalent to approximately $1.4 billion.
It is part of Sumou Investment’s entry into the Egyptian market through Adeer International, backed by Sumou Holding, which manages a portfolio exceeding $4.8 billion in total development value, along with more than 36.4 million square meters of land and over 1.45 million square meters of built-up area under construction.
Bedeir Rizk, CEO of PARAGON Adeer, said: "Sumou Boulevard reflects a shift in how cities are designed – not just as places to live, but as environments that support a modern lifestyle. Egypt's tourism sector is no longer a standalone pillar; it is becoming a catalyst that connects business investment, urban development, and quality of life. The country welcomed nearly 19 million tourists in 2025 – a 21%increase year-on-year – while tourism revenues rose 17%, reaching approximately $15.3 billion – figures that speak to how deeply embedded hospitality has become in Egypt's economic story. As tourism growth aligns with urban expansion, it is also strengthening Egypt’s attractiveness as a destination for foreign direct investment. By integrating hotels, residences, culture, and wellbeing into a single urban environment, we are creating a new typology of business lifestyle development in Cairo that speaks directly to this convergence. Hilton’s global presence and operational excellence make them a strong partner in supporting this vision."
Katharina Jaeger, CEO of The Code and Hospitality Advisor for the project, added: "What defines the next generation of destinations is their ability to empower people holistically, across business, lifestyle, and wellbeing. With Sumou Boulevard, we are creating a hospitality-led ecosystem that responds to this shift, designed to support daily routines and a more active, contemporary lifestyle. We are pleased to have signed a Letter of Understanding with Hilton; Hilton’s global trust, scale, and distribution make them a highly aligned partner for our vision."
