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Prime Hospitality Management Group, a leader in serviced apartment and holiday home management, has partnered with Sharm El Sheikh Real Estate to manage investor-owned properties at Sharm El Sheikh Resort in South Sinai.
As the first and largest entity of its kind in Egypt, Prime Hospitality Management Group has now expanded its services to Saudi Arabia, offering innovative options to tourists, foreign residents, Arabs and Egyptians. They offer a new style of accommodation, including serviced apartments, villas and holiday homes, which are becoming increasingly popular in the Egyptian tourism industry.
The Group’s services are present in Egypt’s most important locations, resorts and cities, with a growing number of management contracts signed with various investors in Egypt and Saudi Arabia.
Moataz Amin, CEO and Managing Director of Prime Hospitality Management Group, announced the signing of a contract with Tarek Al-Saadi, Managing Director and CEO of Sharm El Sheikh Real Estate, to manage units located in the picturesque Red River city of Sharm el-Sheikh coastal.
Amin emphasized that the properties in Sharm el-Sheikh combine leisure and privacy and are located in unique tourist attractions. He highlighted the resort’s unique features, including vast green areas covering 80% of the total area, while building coverage is limited to 20%. Tenants can enjoy amenities such as swimming pools, beaches, and are close to business centers, restaurants, and various entertainment venues. Additionally, adventure tours and water sports activities are available upon request, enhancing the experience provided by the Sharm El Sheikh office concierge service.
Amin also noted that Prime Hospitality Management Group will launch novel accommodation concepts in Sharm el-Sheikh.
Tarek El Saadi expressed the company’s strong support for the concept of government-endorsed real estate exports. He pointed out that Sharm el-Sheikh’s real estate return on investment (ROI) exceeds that on the North Coast, with units rented out for 100 to 150 nights per year compared to 60 to 70 nights on the North Coast.
Khaled El Sayyad, chairman of Prime Hospitality Management Group, said the partnership with Sharm el-Sheikh Real Estate marks the group’s first collaboration in Egypt and the start of its expansion into South Sinai, following its success on the north coast and in Egypt. expansion. The partnership will launch 38 “Prime Holidays” brand vacation homes, ranging from villas to cabins, accommodating one to four rooms, designed to meet the diverse needs of families and individuals seeking unique vacation experiences.
El Sayyad also revealed that a new “Prime Residence” building will open in New Cairo this month, further expanding the group’s portfolio of all brands across Egypt’s governorates, with the number of properties set to exceed 400 by the end of 2024.
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