Minister of Public Enterprises Mohamed El-Shimy met with Hisham Talaat Moustafa, CEO of Talaat Moustafa Group Holding (TMG), and his delegation at the ministry's headquarters in the New Administrative Capital to review progress on joint hotel investment projects. The meeting aligned with Egypt's strategy to bolster the tourism sector as a key economic driver, expand hotel capacity, and deepen private sector partnerships. Discussions centered on ongoing cooperation and major developments, including the expansion of the historic Mena House Hotel.
The Ministry of Public Enterprises hosted a meeting between Minister Mohamed El-Shimy and TMG CEO Hisham Talaat Moustafa, along with his delegation, at its headquarters in the New Administrative Capital. Held on December 28, 2025, the session focused on the latest updates in joint hotel investment initiatives, aimed at supporting tourism growth and enhancing private sector collaborations.
Key projects under discussion included the expansion of the historic Mena House Hotel, overlooking the Giza Pyramids. This initiative is being carried out by Legacy Company, a joint venture between EGOTH—an affiliate of the Holding Company for Tourism and Hotels under the ministry—and ICON, a TMG subsidiary. The development seeks to improve operational efficiency and service quality to meet the highest international standards.
The meeting also covered the status of the Four Seasons Luxor Hotel project, developed by ICON on land owned by EGOTH known as Sultanah Malak, with views of the Nile River. Conversations addressed progress rates and future work plans, highlighting the project's role in solidifying Luxor's status as a leading global cultural and tourism destination.
Minister El-Shimy reaffirmed the ministry's commitment to backing serious investment partnerships, especially with prominent national entities, to advance hotel infrastructure, boost accommodation capacity, maximize economic returns, and achieve sustainable tourism development goals.