(MENAFN- Daily News Egypt) Ebny Developments has signed a cooperation protocol with Prime Hospitality Management Group to manage and operate the Prime Residence Heliopolis project, located near several main hubs in the Heliopolis area and Cairo Airport. The launch of Prime Residence Heliopolis marks Ebny's second project in 2024, following the launch of Waves Complex in May 2024.

Chairperson of Ebny Developments, Abdallah Kamel, stated that the Prime Residence Heliopolis project consists of serviced apartments. He mentioned that this project is part of a series of diverse developments, including residential, administrative, commercial, medical, hotel, and entertainment projects, with total investments exceeding EGP 10bn, according to the company's expansion plan.

The company's CEO, Mohamed Islam, said that the project comprises five floors and offers a variety of residential hotel units, including studios, one-bedroom apartments, and two-bedroom apartments, with sizes ranging from 35 sqm to 95 sqm. These units will be managed by Prime Hospitality Management Group.

Khaled El-Sayyad, Founder and Chairperson of Prime Hospitality Management Group, stated that the group aims to sign several contracts with new partners to reach 1,000 residential hotel units in preparation for launching new projects in Egypt, including in the New Administrative Capital and Heliopolis. This is in addition to the areas currently managed by the company in Downtown Cairo, Sheraton Residences, New Cairo, 6th of October, Sheikh Zayed, Mohandessin, Katameya, 10th of Ramadan, Sharm El-Sheikh, the Red Sea, and the North Coast.

CEO and Managing Partner of Prime Hospitality, Moataz Amin, stated that the Prime Residence project increases the group's operational capacity to nearly 450 residential hotel units. This strengthens the group's position in the Egyptian market as the first and largest company that manages serviced apartments and vacation homes in Egypt.

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