Qatari investments continued in Egypt despite political tensions
The Qatari Diar Company managed to open the St. Regis Hotel on the banks of the Nile River in Cairo, but the future of Qatari investments in the Egyptian market seems to be marred by tensions between the two countries.
In late June, the St. Regis Hotel, owned by the Qatari Diar Company, opened its doors on the Nile Corniche in Cairo to guests, 12 years after the Qatari company had acquired the land of the project.
According to the Egyptian Al-Borsa newspaper, Qatari Diar, a company affiliated with the state-owned Qatar Investment Authority, had obtained an operating license for the hotel at the beginning of this year.
According to the website of the global Marriott Group, which manages the hotel, the new hotel consists of 36 floors, 312 rooms, 50 suites and 23 meeting rooms.
The project, located in the heart of the Egyptian capital on the banks of the Nile River, cost $1.3 billion and stretches over an area of 9,360 square meters (2.3 acres).
