Madbouli made the remarks while participating in the opening ceremony a new hotel of Emaar Misr for Development, a leading real estate developer, in Marassi North Coast resort, in the presence of Mohamed Alabbar, founder of Dubai-based real estate developer Emaar Properties.

As the 11th hotel in Marassi portfolio, the new "Palace Beach Resort Marassi," hotel was established with an estimated investment cost of EGP 9 billion, marking a new milestone in Emaar Misr's 18-year journey in the Egypt.

The inauguration of the new hotel is the latest move in Emaar Misr development's strategy to redefine the concept of luxury tourism by offering hotel experiences on par with major international destinations.

This step has been taken amid the rapid recovery of Egypt's tourism industry, buoyed by the State' vision to enhance its position on the global tourism map by combining the country's rich history with diverse natural environment and ongoing infrastructure development.

Emaar Misr for Development continues to play a prominent role in supporting this industry by offering integrated projects that meet the highest standards of luxury, especially in the North Coast region, which has become one of the most luxurious tourist destinations in Egypt.

Occupying an area of about 140,000 square meters, the new hotel features 87 rooms and suites with striking views, as well as 31 luxury villas, along with a wide range of integrated facilities and services, including a meeting room, beach restaurant, gym, swimming pool, spa, and beauty salon, offering an integrated accommodation experience with world-class standards.