PRE Group and Hilton Sign $259M Deal for 10 Projects in Egypt
The Egyptian developer and the global hotel operator will add about 2,000 rooms and residential units across four sites under five Hilton brands.
Egyptian real estate developer PRE Group has signed a partnership agreement with Hilton covering 10 hotel and branded residential projects worth about $259 million, or EGP 14 billion. The cabinet announced the deal on Tuesday.
The portfolio is made up of six hotels and four branded residential developments drawn from PRE Group's real estate holdings. The projects are expected to add about 2,000 hotel rooms and residential units across Egypt. Five Hilton brands will be used: Canopy by Hilton, Tapestry Collection by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton and Hilton Garden Inn.
Sites named in the plan include Telal Ain Sokhna, Jebal Ain Sokhna, Telal Alamein and Ivoire East. Hotel operations and branded residences will be folded into residential and coastal developments PRE Group already owns or has planned.
PRE Group founder and chief executive Waleed Zaki and Guy Hutchinson, Hilton's president for the Middle East and Africa, signed the agreement. Prime Minister Mostafa Madbouly and Tourism Minister Sherif Fathy attended the signing.
PRE Group expects the properties to create thousands of direct and indirect jobs once they are fully running, and to support tourism-related foreign currency earnings and tax revenues. The announcement left out a construction schedule, the cost of each individual project, and the split of the 2,000 units between hotel rooms and branded residences.
The expansion follows a hospitality study PRE Group commissioned across 12 of its developments in East and West Cairo, the North Coast, Ain Sokhna and Marsa Alam. That review identified hotels and branded residential property as priorities for the company's next phase of growth.
Carlos Khneisser, Hilton's regional development chief executive, said the agreement would broaden Hilton's Egyptian offer across hotel stays and residential ownership. The company has operated in Egypt for more than 65 years.
Egypt's government wants about 30 million international visitors a year and roughly 300,000 hotel rooms by 2030, and it is seeking private capital to close the accommodation gap. Tourism generated $18.4 billion in fiscal year 2025/26, up 10.3% from a year earlier on central bank data. A September 2026 outlook by BMI, part of Fitch Solutions, projected about 20.2 million arrivals in 2026 and 23.8 million by 2030. Those arrival figures sit well below the room target, which puts the burden on developers to build hospitality capacity into mixed-use schemes rather than treat hotels as stand-alone assets.
Zaki placed 81st in a 2026 ranking of the most impactful real estate leaders. Hutchinson was 28th in a 2026 list of the top 100 travel and tourism leaders.
