Hotel101 to open in Cairo, Egypt

Hotel101 Global Pte. Ltd., the Singapore-headquartered subsidiary of DoubleDragon Corp., on Wednesday announced its entry into Africa, starting with a development in Cairo West, Egypt.

The initial 750-room Hotel101 in Cairo, Egypt, will be located in Hay Al Ashgar along Ahmed Zewail Road in 6th of October City, Giza, within the broader catchment of the Giza Pyramids and the Grand Egyptian Museum.

The development is expected to offer 4-star amenities and bring in approximately 5.465 billion Egyptian pounds, or $102.09 million. It is set to be completed by 2029, subject to customary governmental, regulatory, and corporate approvals.

The partnership will be with IGI Holding’s affiliate, WNTR Property & Hospitality, under a joint venture agreement signed by Hotel101 Global founder Edgar “Injap” Sia II and IGI Holding vice chairman Khaled Sheta.

“This expansion marks a significant milestone in the company’s global growth strategy, bringing its novel, globally standardized condotel business model to one of the Middle East and Africa’s most dynamic capital cities and a major cultural tourism gateway,” DoubleDragon said in an emailed statement.

Hotel101 plans to open a record 2,229 rooms across its key developments this year, including 680 rooms in Madrid, Spain, which began generating revenue in March; 519 rooms in Davao; 548 rooms in Cebu; and 482 rooms in Niseko, Hokkaido, Japan, which will open in December.

In January, Hotel101 announced plans to develop a 766-room hotel in Melbourne's central business district, set to be the largest in the area.

The company’s first three overseas projects are located in Niseko, Hokkaido, Japan; Madrid, Spain; and Los Angeles, California, in the United States. It is expanding to other areas as it aims to accumulate a portfolio of 1 million rooms in 101 countries before 2050. —Jon Viktor Cabuenas/LDF, GMA News