India’s Taj Hotels has signed an agreement to enter the Egyptian market for the first time, managing and operating Cairo’s historic Continental Hotel in a strategic move to revive the 19th-century landmark. Prime Minister Mostafa Madbouly witnessed the signing, calling the project a successful model for state-private sector partnerships. The initiative aims to preserve architectural heritage while boosting tourism and creating jobs.
The agreement was signed on Sunday at the government headquarters in New Cairo City between Hisham El-Demiri, Executive Managing Director of the Egyptian General Company for Tourism and Hotels (EGOTH), and Puneet Chhatwal, Chief Executive of the Indian Hotels Company Limited, a Tata Group subsidiary owning the Taj brand. Dating back to 1870, the Continental Hotel is located in Opera Square in the heart of Khedivial Cairo, overlooking Azbakia Gardens. The redevelopment will turn it into a five-star hotel with around 300 rooms.
Prime Minister Mostafa Madbouly, who witnessed the event, described the project as a successful model for partnerships between the state and the global private sector. He noted it aligns with the government's vision to preserve architectural heritage and invest in it economically in a contemporary and sustainable way, supporting tourism and job creation. The signing was attended by Mohamed Shimi, Minister of Public Business Sector, and Suresh K. Reddy, India’s Ambassador to Egypt. Shimi stated that the partnership reflects the growing confidence of major international hotel brands in the Egyptian economy and local investment climate.
Implementation of the revival project began in the second quarter of 2025, with a full commitment to preserving the building's original architectural style and historic facades while integrating modern international operating standards. The hotel is owned by EGOTH, a subsidiary of the Holding Company for Tourism and Hotels under the Ministry of Public Business Sector. The Taj brand currently manages over 335 hotels in more than 150 locations worldwide. The ministry's strategy emphasizes maximizing economic returns from state-owned assets through collaborations with international brands experienced in luxury heritage properties, aiming to boost high-quality hotel capacity and draw more tourists to Egypt.
