A US-led international consortium has secured the contract to redevelop the historic Mogamma el Tahrir into CairoHouse, a luxury lifestyle hotel and mixed-use development on Tahrir Square in downtown Cairo, Egypt.
The consortium includes Oxford Capital Group, Global Ventures Group and Al Otaiba Investments.
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The complete project represents over $200m investment in repurposing the historic government building in Egypt.
Designed by architect RATIO|smdp, the new development will comprise serviced apartments, more than 450 luxury lifestyle hotel rooms, entertainment venues, and multiple world-class dining.
It will also include more than 85,000ft2 of meeting and events space along with Cairo’s largest rooftop venue.
Additionally, the developers envision an iconic structural lotus pavilion, an indoor/outdoor special events and weddings venue at the new development that will add an additional 15,000ft2 of meeting space.
Real Estate Investment & Antiquities Development and Egypt’s Sub-Fund for Tourism CEO Amr Elhamy and representatives from each company of the consortium have signed the agreement for the contract.
Chicago-based legal services firm RKF Global has provided legal and strategic consulting for the project.
Oxford Capital Group Chicago CEO, founder and chairman John W. Rutledge said: “We are deeply humbled to have been chosen and have been extremely impressed with the level of sophistication and professionalism shown by Egypt’s entire Sovereign Fund team during the bidding process.
“We are also impressed with the strategic vision that the President and Prime Minister have for Egypt.
“We have redeveloped and successfully operated many luxury lifestyle hotels and mixed-use projects in historic buildings throughout the United States.
“We are confident that our deep domain expertise in this unique endeavor will serve us, the Egyptian government and its people well as we optimize the potential of this international landmark and local treasure.”
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Rendering of the CairoHouse mixed-use development on Tahrir Square. Credit: Global Ventures Group/ PRNewswire.
