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Barons Court launches new hotel in Alex West project with investments EGP 300m - Daily News Egypt

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Barons Court launches new hotel in Alex West project with investments EGP 300m

Barons Court achieved profits of EGP 59m last year, says managing director


Barons Court Sports and Leisure (BCSL), the largest real estate developer in Alexandria, plans to launch a second hotel in the Alex West project in Alexandria governorate, with a total investment of EGP 300m.

Barons Court managing director Hisham Akram said that the company is preparing the consultancy studies for the new 4-star hotel, which is to include 250 rooms.

The planned hotel is the second hotel for the company. The first is the Radisson Blu Hotel, which was inaugurated in 2009 within the Alex West project, containing 262 rooms on 33,000 sqm and 85% occupancy.

Akram added that the company aims to raise the current hotel services of the project through the establishment of several other hotels to reach 1,500 hotel units in light of the shortage of large 4-and 5-star hotels in the Alexandria governorate, which do not exceed 3,500 rooms in the whole governorate.

He pointed out that the company is negotiating with several international companies to manage the new hotel, while receiving offers from investors to implement it in partnership, which is also under study.

The Alex West project is located west of Alexandria governorate on ​​620 feddans. It includes a variety of activities between the hotel and residential units with investments of EGP 50bn, including EGP 10bn for commercial and administrative buildings and EGP 15bn for residential units, as well as EGP 2bn for educational activities and EGP 500m for sports activities and clubs.

The company has completed the first residential phase of the project “Antoniades” on an area of ​​530,000 sqm that includes 520 villas. The second phase, “Saint Catherine”, is on ​​258,000 sqm and includes 406 villas.

He explained that the third residential phase, which will be launched soon, will include economic housing units comprising of 172 residential buildings with a total of 5,000 housing units located on an area of ​​467,000 sqm. It is scheduled to be managed by a company specialised in facilities management.

Akram announced that the company will start selling the third phase starting next month.

He explained that the company achieved profits of EGP 59m last year, and its investments since the start of the project are EGP 2bn. Furthermore, the company injected EGP 600m last year.

Alex West has a 16,000-sqm conference centre, which was recently opened, consisting of four main halls, nine sub-halls, and an 88,000-sqm Saudi-German hospital.

The company plans to establish a public hospital, seven specialized hospitals, a medical building, and a medical science college.

The Alex West Real Estate project has a distinct geographical location, which is a meeting point of Alexandria governorate in the east, Borg El Arab City in the west, the North Coast in the north, and Cairo governorate in the south.

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https://wwww.dailynewssegypt.com/2017/09/25/barons-court-launches-new-hotel-alex-west-project-investments-egp-300m/
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