The highest hotel in Africa, with investments exceeding EGP 15bn
- Under the auspices of the Ministry of Housing, Utilities, and Urban Communities and in the presence of Eng. Khaled Abbas, Chairman of the Administrative Capital for Urban Development
- Muhammad Taher: We are happy for the selection of Tycoon Tower to represent the Administrative Capital for Urban Development’s projects at the international exhibition, which reinforces the international status that the project has achieved.
- Mahmoud Taher: We aim to export Egyptian real estate, which has the latest designs and construction techniques, to attract foreign investments.
Nile Developments, the first specialized Egyptian company in constructing skyscrapers, announced its participation in the largest international real estate exhibition “MIPIM”, which will be held in Cannes, France – during the period from March 14th to 17th, 2023.
The Egyptian participation comes under the auspices of the Ministry of Housing, Utilities, and Urban Communities alongside the Administrative Capital for Urban Development Company; the Egyptian pavilion includes a large group of major real estate companies operating in the Egyptian market.
The unique, unprecedented Nile Developments’ project “Tycoon Tower”; the highest hotel in Africa and the first of its kind in the region and is managed by Millennium International, was chosen to represent the new administrative capital, leading the Egyptian pavilion and reflecting the future of innovative and pioneering construction.
It is notable that the MIPIM real estate exhibition, which will last for four days, is one of the largest real estate exhibitions in Europe and the world, with +80 participant countries, +2,400 exhibitors, +2,000 real estate investment funds, and some of the largest banks. It also witnesses the attendance of over 20,000 participants of decision makers, investors, company owners and stakeholders from different countries, which avails a plethora of investment and networking opportunities.
For his part, Eng. Khaled Abbas, Chairman of the Administrative Capital for Urban Development, praised the Tycoon Tower project, stressing that it will have a prominent role in promoting real estate tourism and open investment opportunities in this sector and many others in the New Administrative Capital (NAC).
Abbas also highlighted that all the developers of the NAC are aware of its value and are doing their best to submit the projects at international standards, pointing out that his company works closely with all the developers of the NAC to overcome all challenges facing the completion of such a giant national project; considered one of the main features of the New Egyptian Republic established by President Abdel Fattah El-Sisi.
From his side, Eng. Mohamed Taher, Chairman of Nile Developments, expressed his pride that “Tycoon Tower” is selected as the representative of the NAC’s projects at the MIPIM International Exhibition, spotlighting that this reflects the international status that the project has achieved. He also thanked Eng. Khaled Abbas and his board for their support to the NAC’s developers in overcoming all hindrances to expedite its inauguration.
Taher added: “Tycoon Tower, managed and operated by Grand Millennium International, represents one of the largest projects of Nile Developments with investments exceeding EGP 15 billion pounds. It is a great model that reveals the urban development of skyscrapers in Egypt, and further positions the New Administrative Capital as a global attractive hub for golden investment opportunities.
He further elaborated that the choice of “Tycoon Tower” to participate in this international exhibition comes as it enjoys all the specifications that secures it a global spot, which will help promote the Egyptian real estate market as that of a recognized quality and efficiency.
For his part, Mahmoud Taher, Vice Chairman of Nile Developments, stated: “The Tycoon Tower project is the third highest skyscraper in Africa and the second highest in Egypt. It highly aligns with the vision and strategy of our company to proceed its success journey in NAC.”
Mahmoud Taher also reinforced that the Egyptian participation aims to market the urban renaissance that was achieved during the era of his excellency President Abdel Fattah El-Sisi to attract foreign investments to the real estate sector, being one of the main contributors to the GDP, as well as becoming aware of other international projects, designs, and the latest building technologies.
It is worth mentioning that the exhibition will be include a roster of panel discussions and workshops to exchange experiences in the fields of real estate and technology.
This year’s edition is also distinguished by allocating a special space under the name “ROAD TO ZERO” to help preserve the environment and reach zero carbon emissions. Companies and countries will furnish their sustainable solutions and different models of recycling, carbon-neutral construction, building management, and smart mobility.