Gulf Egypt Hotels & Tourism, a subsidiary of United Real Estate Company (URC) – Kuwait, has announced a major milestone in its growth journey with the launch of a fully integrated luxury tourism destination in Sharm El Sheikh, currently advancing through the final planning and development stages ahead of construction.
The announcement comes as Gulf Egypt celebrates 50 years of operations in the Egyptian market, reinforcing the company’s commitment to supporting Egypt’s tourism sector and contributing to sustainable tourism development in line with Egypt Vision 2030.
Major Investment to Develop Integrated Tourism Destination
United Real Estate Company, the real estate arm of Kuwait Projects Company Holding (KIPCO) and one of the leading real estate developers in Kuwait and the MENA region, is supporting the project as part of its strategic expansion in hospitality and tourism development.
Gulf Egypt plans to invest more than EGP 20 billion in developing one of Sharm El Sheikh’s most distinguished integrated tourism destinations. The project will combine luxury hospitality, branded residences, wellness, entertainment, and lifestyle experiences within a comprehensive master plan.
The development covers 354,458 square meters, featuring 750 meters of natural sandy beachfront, with a strategic location just minutes from Sharm El Sheikh International Airport and major conference and event venues.
Strategic Agreements to Support Tourism Development
With the support of the Presidency of the Arab Republic of Egypt and the Tourism Development Authority, Gulf Egypt Hotels & Tourism signed a cooperation protocol with Al Montazah Tourism & Investment Company, through which Gulf Egypt acquired the project land following a comprehensive evaluation and planning process aligned with its long-term development strategy.
The agreement was signed on behalf of Al Montazah by Major General Sameh Shoaib, Managing Director and Chief Executive Officer.
Commenting on the partnership, Major General Sameh Shoaib said:
“Our partnership with Gulf Egypt reflects our shared ambition to create new horizons for tourism development in Sharm El Sheikh. We are committed to supporting the development of an integrated tourism infrastructure that meets the expectations of investors and visitors while contributing to the growth of the sector.”
Global Expertise Through HVS and JLL Partnerships
As part of its commitment to international development standards, Gulf Egypt signed agreements with leading global advisory firms HVS and JLL.
HVS will provide hospitality market research and feasibility studies, while JLL will conduct market and economic feasibility studies, support the project’s master plan development strategy, and provide specialized advisory services.
The agreements aim to ensure that the destination is developed according to international best practices and positioned as a competitive global tourism destination.
The signing ceremony was attended by Eng. Tarek El Shazly, Chief Executive Officer of Gulf Egypt Hotels & Tourism; Hala Matar Choufany, President of HVS Middle East, Africa & South Asia; Ayman Sami, Country Head of JLL Egypt; along with senior executives and advisors from the participating companies.
Gulf Egypt: Creating Sustainable Tourism Investments
Eng. Tarek El Shazly, CEO of Gulf Egypt Hotels & Tourism, stated that the new Sharm El Sheikh destination reflects the company’s vision of developing integrated, mixed-use tourism projects that create long-term value for Egypt’s hospitality sector.
“We are not simply developing world-class hotels; we are creating sustainable investments that support Egypt’s tourism development plans and unlock new opportunities for growth. Our partnerships with leading global companies establish the foundation for delivering exceptional planning and operational standards.”
Luxury Hotel, Branded Residences and International Beach Club
The new destination will feature a luxury beachfront hotel, two branded residential communities, and the first internationally branded beach club in Sharm El Sheikh.
The beach club will serve as one of the project’s key attractions, providing a year-round social and lifestyle destination featuring events, entertainment experiences, and premium leisure offerings.
The project will also include wellness facilities, recreational spaces, and lifestyle services operated by leading international specialists, enhancing its appeal to residents and visitors while expanding Egypt’s tourism offerings.
Final Preparations Before Construction Begins
The project concept is the result of extensive technical, economic, and tourism studies conducted by leading local and international consultants.
Following the expansion of the development area and the integration of additional land, Gulf Egypt and its partners conducted a comprehensive review to maximize the project’s economic, tourism, and community impact.
The project has completed key strategic studies and assessments and is currently undergoing final approval procedures ahead of construction.
Gulf Egypt’s 50-Year Legacy in Egypt
Established in 1976, Gulf Egypt Hotels & Tourism has built a strong presence in the Egyptian market for more than five decades.
The company’s portfolio includes Hilton Cairo Heliopolis and Waldorf Astoria Cairo Heliopolis, with Gulf Egypt pioneering the introduction of the Waldorf Astoria luxury brand to Africa.
The Sharm El Sheikh project represents the company’s latest strategic milestone, bringing together luxury hospitality, branded residences, wellness, entertainment, and community experiences within a sustainable tourism development model.
Through partnerships with Al Montazah Tourism & Investment Company, HVS, JLL, and future international operators, Gulf Egypt aims to deliver a landmark destination that strengthens Sharm El Sheikh’s position as a leading global tourism hub and supports Egypt’s vision for sustainable tourism growth.
