Hotel101 signs Egypt joint venture for 750-room Cairo West hotel
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Hotel101 Global has signed binding agreements with IGI Holding for a country-wide joint venture in Egypt, starting with a roughly 750-room hotel on a 15,984 square metre site in 6th of October City.
Nasdaq-listed Hotel101 Global Holdings Corp. has signed definitive binding agreements with Egyptian developer IGI Holding for a country-wide joint venture to roll out its condotel model in Egypt, beginning with Hotel101-Cairo West, a roughly 750-room hotel on a 15,984 square metre site in Hay Al Ashgar along Ahmed Zewail Road in 6th of October City, Giza.
The company said the site sits about ten minutes from the Giza Pyramids and the Grand Egyptian Museum, with connectivity through El Wahat Road, the Cairo Ring Road and Sphinx International Airport. The project is expected to carry a value of about 5.465 billion Egyptian pounds, or US$102.09 million, and to be completed by 2029.
Hotel101 said the property is expected to rank among the three largest hotels in Cairo by room count and will offer four-star amenities including a ballroom, meeting space, a conference centre, swimming pools, a gym, a business centre and parking. The development remains subject to customary governmental, regulatory and corporate approvals.
The group, a subsidiary of Philippine-listed DoubleDragon Corporation, listed on Nasdaq under the ticker HBNB with a market capitalisation of about US$1.1 billion as of 16 October 2026. Its asset-light model sells individual hotel units during construction and then earns recurring revenue from operating the property, and management has set a medium-term goal of operating in 25 countries and a long-term target of one million rooms across 100 countries.
Egypt is reported to have welcomed nearly 19 million tourists in 2025 against a population estimated at about 118.4 million, and West Cairo has emerged as a fast-growing district mixing residential, commercial and tourism development. The signing was led by Hotel101 founder Edgar "Injap" Sia II and IGI Holding vice chairman Khaled Sheta, with Hotel101 chief executive Hannah Yulo-Luccini, chief development officer Catherine Chan and development director Vivek Radhakrishnan, alongside IGI managing director Nagy Mokhtar and IGI Developments chief executive Sherif Moustafa.