Moataz Amin expects an increase in real estate companies’ demand for implementing hotel apartments to support the state’s plan to expand real estate exporting
Moataz Amin expects an increase in real estate companies’ demand for implementing hotel apartments to support the state’s plan to expand real estate exporting
Moataz Amin, Prime Hospitality Management Group founder and CEO, assured that there is high confusion between the concept of international branded residential units management and units that are rented within the hospitality system, both are named “Hotel Apartments” as there is a big difference between the type of real estate product in each of them as well as the nature of the owner’s use of these units, in addition to the type of services provided.
Moataz Amin
He showed in his speech during the roundtable held by “Invest Gate magazine entitled “Towards New Horizons for Hotel Living and Hospitality Units in Egypt”, that the concept of residential units under the branded residence is a residential apartment managed by a global brand, as Marriott, Hilton or other globally known brands, with the possibility of the unit’s owner benefiting from it through personal use or renting it for long periods to others achieving return on investment, as these global companies do not offer a rental management service on behalf of the owner, on the contrary to what is currently common or understood in the Egyptian market.
He pointed that this type of units has a high price and high rental cost, so the client can achieve the highest return on investment especially with the high value he paid for the unit, and there has been a strong demand recently for this type of real estate products which aligns with the state’s orientation towards exporting real estate and attracting foreign clients to the Egyptian real estate market.
He added that the apartments managed by a local brand such as Prime Hospitality, can manage the rental and hotel service of the apartments for the client’s benefit for short and medium terms, so that all the required hospitality elements are provided in these units and thus attract the foreign and Gulf client, in addition to Egyptian clients from companies and individuals
He noted that providing the services that this client needs, enables a repetition of his experience and usage of these units again with the same brand to ensure the same level of service provided, which aligns with the Ministry of Tourism’s plan now to encourage and regulate this type of residence in Egypt due to the growing demand for it globally
He explained that Prime Hospitality Group achieved in 2024 more than 47 thousand nights in the units it manages under the five brands: “Residence, Select, Holidays, Inn, and Home”, as 48% of its clients repeat the experience with Prime Group again, which reflects the extent of client satisfaction with the provision of the services they need and encourages them to repeat the experience, which leads to achieve a high return on investment to the unit owner.
He revealed that launching a branch of the group in the Saudi market, in addition to the company’s plans to expand in other countries such as Libya, Oman and Morocco during the coming period, which comes within its strategic plan to become a global Egyptian brand.
He pointed that Prime Hospitality Group is the first and largest company specialized in developing, managing and renting residential properties, hotel apartments and vacation homes, whether for individuals or companies, and achieving the highest return on investment from them, especially with the group’s experience in the integrated management of these hotel serviced residential projects, noting that the group seeks to change the levels and concepts of serviced apartments units in Egypt and maximize the return on investment and operating efficiency for property owners and investors and provide distinguished hospitality services to tenants with integrated hotel services with international specifications.
For his part, Khaled El Sayyad, the founder and Chairman of Prime Hospitality Group, expressed his happiness with the company’s sponsorship of this important event, noting that this cooperation is a strong addition to the company and enhances its expansion plan in the Egyptian market, which seeks to sign a number of contracts with new partners to reach 1000 units serviced apartments in preparation for launching some new projects in Egypt, including the Administrative Capital, Heliopolis and New Cairo, in addition to the current areas.
He added that the group currently manages more than 500 units in Downtown, Sheraton Residences, New Cairo, 6th of October, Sheikh Zayed, Mohandesin, Katameya, 10th of Ramadan, Sharm El Sheikh, Alexandria and the North Coast.
