EBNY Developments has signed a cooperation protocol with Prime Hospitality Management Group to oversee and operate the “Prime Residence Heliopolis” project, located on Thawra Street near key hubs in Heliopolis and Cairo Airport.
The launch of “Prime Residence Heliopolis” marks EBNY’s second project launch this year within a three-month period, following the introduction of “Waves Complex” in May.
Dr. Abdullah Kamel, Chairman of EBNY Developments, stated at a press conference that the project is a “hotel-residential” development. This initiative is part of EBNY’s broader strategy, which includes various residential, administrative, commercial, medical, hotel, and entertainment projects with a total investment exceeding 10 billion EGP.
According to the protocol, Prime Hospitality Management Group will handle the hotel’s operations to ensure maximum investment returns.
Motaz Amin, CEO of Prime Hospitality Management Group, noted that “Prime Residence” will enhance the group’s operational capacity, which now includes nearly 450 hotel residential units, strengthening the group’s position in the Egyptian market. This project is the sixth under the Prime Hospitality brand.
Khaled El-Sayed, Founder and Chairman of Prime Hospitality Management Group, emphasized that this collaboration significantly bolsters the company’s expansion plans in the Egyptian market. The company aims to sign additional contracts with new partners to reach 1,000 hotel residential units, preparing for new projects in Egypt, including the New Administrative Capital and Heliopolis, in addition to their existing properties in downtown Cairo, Sheraton, New Cairo, 6th of October, Sheikh Zayed, Mohandessin, Katameya, 10th of Ramadan, Sharm El-Sheikh, Red Sea, and North Coast.
Dr. Abdullah Kamel highlighted that “Prime Residence Heliopolis” is one of EBNY’s innovative projects designed to offer a unique concept and service to clients, aligning with the company’s goal to deliver high-quality real estate products with top-tier services.
He also reiterated that EBNY’s vision focuses on creating sustainable urban projects that harmonize with their surroundings, ensuring high standards of quality and sustainability to preserve the investment value of these projects.
Mohamed Islam, Executive Director of the company, added that the real estate market is evolving with changing client needs, emphasizing real estate as a secure investment tool that also offers substantial returns. Hence, the company’s focus is on delivering projects that meet these market demands.
Khaled El-Sayed expressed his enthusiasm for collaborating with EBNY Development, noting their innovative approach and commitment to clients. He highlighted that Prime Hospitality Management Group is the largest company specializing in preparing, managing, and leasing residential properties and vacation homes for both individuals and companies, aiming to enhance investment returns and operational efficiency for property owners and investors, while providing world-class hospitality services to tenants.
