Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group held talks today with Mervat Ali Hataba, Chairman, Ministry of Investment, Holding Company for Tourism, Hotels & Cinema (HOTAC) at the Al Habtoor Group head office on Monday May 4, 2015. Ms Hataba was accompanied by Amr Attia Ahmed, Investment Principal, Ministry of Investment, HOTAC and Samir Hassan Soliman, Board Chairman & Managing Director, Egyptian General Co for Tourism & Hotels (EGOTH). Also present was Mohammed Al Habtoor, Vice-Chairman & CEO, Al Habtoor Group; Maan Halabi, Managing Director; Sunderesh Iyer, Director of Operations & Development; Jerry Morgan, Advisor to the Chairman; Ahmad Al Otaiba, Director-Member of the Board.
HOTAC encourages investment in Egypt in the tourism, hospitality and entertainment sectors. Some of its properties include historic hotels like Mena House Oberoi Hotel, Winter Palace Hotel in Luxor, The Nile Ritz-Carlton Hotel, and several others.
Al Habtoor recently announced that he is considering investment opportunities in Egypt in the hospitality and entertainment sector, with a particular focus on Cairo. Ms Habata informed him about potential opportunities and future collaboration. She briefed him about land available for sale in Al Ghardaa, one of the most famous tourist destinations in the country.
Al Habtoor said he would like to focus his attention on Cairo, adding that he would like to see the Egyptian government adopt more flexible rules for foreign investors. “I would like to encourage the Egyptian government to consider more investor-friendly rules to attract more foreign direct investment to Egypt, and help return the country to its former glory.
“Privatisation is not a bad thing,” he said. “Transferring assets from national assets to private investors is good for the economy. It also encourages more foreign investors.”
He added. “I first visited Egypt in 1968 and was so impressed with its class, elegance and cleanliness. Egypt is a wonderful tourism destination. It is rich in culture and history.”