The agreement was signed by Hossam El-Shaer, Chairman of Sunrise Resorts and Hotels, and William E. Heinecke, Chairman of Minor International, in the presence of Tourism and Antiquities Minister Sherif Fathi.
In a statement, the cabinet said Madbouly stressed that tourism investment is central to Egypt’s development agenda, pointing to government efforts to expand hotel capacity through local and international partnerships as Cairo seeks to boost its appeal as a leading global destination.
The deal also brings in Madar Real Estate Development Company, with the first phase featuring four flagship hotels: one at Azha Ras El Hekma, another at Kenz New Zayed, and two at Azha Ain Sokhna.
Minor International is among the world’s largest hospitality groups, operating over 640 hotels in 59 countries with more than 80,000 rooms, 3,000 restaurants, and 50 leading brands.
Sunrise, meanwhile, is one of Egypt’s top luxury operators, running more than 25 resorts in Sharm El-Sheikh, Hurghada, and Ain Sokhna, as well as seven Nile cruise vessels. It has also expanded into markets including Greece, Morocco, and Zanzibar.
Egypt’s tourism sector is enjoying record growth.
The country welcomed 15.7 million international visitors in 2024, surpassing the previous high of 14.9 million, with revenues reaching $14.1 billion.
Momentum has continued into 2025, with 8.7 million arrivals in the first half of the year, up nearly 24 percent year-on-year, and revenues exceeding $8 billion.
Central Bank of Egypt (CBE) data for July 2024 to March 2025 showed revenues rising 14.7 percent to $12.5 billion compared to $10.9 billion in the same period a year earlier.
Analysts project further growth, with Fitch forecasting tourism revenues to reach $17.6 billion in 2025.
The boom comes as Cairo pushes its National Sustainable Tourism Strategy 2030, which aims to attract 30 million tourists annually by the end of the decade.
The plan includes expanding hotel capacity, diversifying tourism offerings, and launching major cultural projects, such as the Grand Egyptian Museum (GEM), which is set to open in November.
Short link: