Mohamed El-Shimy, Egypt's Minister of Public Enterprises, met with India's ambassador to Egypt and the CEO of Indian Hotels Company Limited to discuss strengthening tourism and investment partnerships. The talks followed the signing of a management agreement for the historic Continental Hotel between Egypt's tourism company and the Indian firm. The collaboration highlights mutual confidence in Egypt's tourism investment climate.
Mohamed El-Shimy, Egypt's Minister of Public Enterprises, held discussions with Suresh K. Reddy, India's Ambassador to Egypt, and Puneet Chhatwal, CEO of Indian Hotels Company Limited (IHCL), owner of the luxury Taj brand and a Tata Group subsidiary. The talks highlighted the strong Egyptian-Indian relations and their growth in economic, investment, and tourism sectors.
The meeting came after the signing of a management and operation agreement for the historic Continental Hotel in downtown Cairo between the Egyptian General Company for Tourism and Hotels (EGOTH), a subsidiary of the Holding Company for Tourism and Hotels under the ministry, and IHCL. The deal was inked in the presence of Prime Minister Mostafa Madbouly, marking Taj's first entry into the Egyptian market and reflecting confidence in Egypt's tourism investment environment.
Discussions focused on enhancing joint cooperation and exploring partnership opportunities in tourism and hospitality to maximize the value of Egypt's historic assets and bolster its global tourism position. Attendees included Mohamed Magued El-Menshawy, Chairman of the Holding Company; Amr Attia, its Managing Director; Amal Saleh, the minister's adviser; and Hisham El-Demery, EGOTH's Managing Director.
El-Shimy reaffirmed the ministry's commitment to expanding partnerships with local and international private entities to boost economic returns from state assets and adopt global best practices. He described IHCL's selection for the Continental Hotel as a strategic step to revive a key architectural landmark of Khedivial Cairo. Redevelopment began in the second quarter of this year, alongside urban revitalization, preserving the hotel's original identity while integrating modern hospitality standards.
The minister noted that Taj's entry signals growing international confidence in Egypt's economy. Established in 1870, the Continental Hotel will be redeveloped into a five-star property with about 300 rooms, restoring its role as a premier destination showcasing Cairo's heritage.