India's Taj Hotels will enter the Egyptian market for the first time to manage and operate Cairo's historic Continental Hotel under an agreement signed on Sunday, marking a strategic step to revive the 19th-century landmark. The contract was signed at the government headquarters in the New Cairo City by 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 subsidiary of India's Tata Group which owns the Taj brand. Prime Minister Mostafa Madbouly, who witnessed the signing, said the project to revive the Continental Hotel serves as a "successful model for partnership between the state and the global private sector." He added that the project aligns with the state's vision to preserve architectural heritage and invest in it economically in a "contemporary and sustainable manner," aimed at supporting tourism and generating jobs. The agreement 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 the local investment climate. The minister noted that the revival project began implementation on the ground during the second quarter of 2025. He emphasised a "full commitment to preserving the original architectural style of the building and its historic facades," while integrating modern international operating standards. Located in Opera Square in the heart of Khedivial Cairo, the Continental Hotel dates back to 1870 and overlooks the Azbakia Gardens. The redevelopment plan will transform the property into a five-star hotel with a capacity ofapproximately 300 rooms. 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 more than 335 hotels in over 150 locations globally. Shimi added that the ministry's strategy focuses on maximising economic returns from state-owned assets through partnerships with international brands experienced in managing luxury heritage properties. This approach is intended to increase high-quality hotel capacity and attract more tourists to Egypt, according to the minister.
