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Amer Group’s Delmar inks deal to manage Marriott Residence Heliopolis

Amer Group’s Delmar inks deal to manage Marriott Residence Heliopolis
Hosny Hany, CEO of Delmar for Touristic Development
Amer Group
-1.24% 0.88 -0.01

Cairo - Mubasher: Amer Group Holding Co announced that its subsidiary Delmar for Touristic Development signed an agreement with Marriott International for the branding and management of an extensive project named ‘Marriott Residences Heliopolis’ in Cairo.

The agreement was signed by the CEO of Delmar for Touristic Development, Hosny Hany, and authorized representatives at Marriott International, according to a statement by Amer Group.

Marriott Residence Heliopolis spans over 27,000 square metres in El-Thawra Street in Heliopolis, within a few minutes from Cairo International Airport, Roxy Square, and Korba.

The project, which features 1,300 premium branded residences with an estimated investment cost of EGP 3.5 billion, will be offered for sale over several phases in the coming days.

Phase one is scheduled for completion in four years.

Amer Group has also revealed that a renowned international agency has been engaged to make design changes, which will comply with Marriott International's requirements.

The statement also included a disclaimer that Marriott Residences Heliopolis, Cairo is not owned, developed, or sold by Marriott International Inc. or its affiliates. Delmar Tourism Development, a company of Amer Group use the Marriott marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made in the statement.