Akam AlRajhi Developments, a joint venture between Akam Developments and Al Rajhi Saudi groups, announced last week the signing of a memorandum of understanding (MoU) with global hotel group IHG Hotels and Resorts to build and operate a Voco Resort, the first of its kind in Egypt.
The new Voco resort is situated in the DOSE resort in the up-and-coming city of Egypt’s North Coast, Ras ElHekma. Located at the shore of the Mediterranean Sea, the DOSE resort is about 23 kilometers away from Egypt’s new Al Alamein Airport and just a few minutes' drive from the coastal city of Alexandria.
The DOSE village is also developed and managed by Akam AlRajhi Developments, with a total investment of EGP eight billion.
GROWING POPULARITY
“The Voco brand enjoys growing popularity across our headquarters in the Middle East, providing an optimal guest experience. We are confident that our first Voco resort in the North Coast will be the preferred choice for visitors,” said Haitham Mattar, managing director, of India, Middle East and Africa at IHG.
Since its launch in 2018, Voco has enjoyed rapid growth with multiple signings across Europe, the Middle East, Africa and Asia (EMEAA).
Currently, IHG operates seven hotels across Egypt, namely InterContinental، Crowne Plaza, Holiday Inn, and Staybridge Suites, with another 10 hotels in the company's pipeline.
MEETING EVOLVING CUSTOMER DEMAND
CEO of Akam Rajhi, Edris Mohamed Akam Rajhi said that the agreement underlines the urgency of a greater private sector investment for economic development through investor-friendly measures, adding that the new project is aimed at uplifting the tourism sector in Egypt.
He also clarified that the project comes as part of the company’s keenness to work with the world’s top brands in the hospitality sector to deliver top-notch quality while meeting ever-evolving customers’ standards.
Last year, Akam Developments, Saudi’s AlRajhi’s venture Group and Egypt’s Akam Developments set up a joint venture (JV) to develop real estate projects in Egypt.
PROJECT DETAILS
The Voco North Coast resort is set to officially launch in December 2026, on the North Coast of Egypt that stretches 1,050km along the Mediterranean Sea, and is a growing destination for leisure offerings. As part of the DOSE village North Coast’s gated community, the 300-key Voco North Coast is designed to include beachfront low-rise buildings, chalets and townhouses, offering a panorama-like beach view.
To capitalize on the rising interest in relaxing holidays and outdoor activities, the Voco resort is built with the purpose of promoting wellbeing travel tourism, offering a wide range of social and health-related activities for travelers. Among facilities offered at the hotel are artificial lakes, swimming pool, spa, health club, running and biking tracks, a shopping mall, and an aqua park along with meeting and events spaces.
EGYPT TOURISM
During the first five months of this year, Egypt welcomed seven million tourists, up from five million during the corresponding period last year. That’s in part due to the recent launch of multiple tourism promotion campaigns and the state’s growing keenness to grant visas for travelers in quick turnaround time.
The country also has plans to increase the number of tourist arrivals to 20 million by the end of next year under its 2030 objectives. Therefore, the need for new hotels and the addition of more rooms to existing hotels becomes more and more pronounced.
