Mervat Hataba, President of the Holding Company for Tourism, said: “The size of the partnership between the company and the private sector reached LE 9 billion over the past years, confirming the success of the experiment.
Mervat said during the conference “Towards an effective and fair partnership between the public and private business sectors” on Monday that the company sought to exploit its assets during the last period by offering land unused to real estate developers, while evaluating them and obtain a guaranteed minimum pricing.
The company has 191 branches with a lot of deals with private companies through the branding of these companies as well as brands of holding companies.
She added that 9 plots of land have been put on the private sector of the system of partnerships, which are managing and financing and achieved good results. The company started its dealings with the private sector for nearly 60 years, which was in the hotel sector through contracting with foreign management companies.
She pointed out that since 2008, the business sector companies, most notably Benzaya and Rivoli, have entered into a partnership with private companies including ACTF and Grand Plaza.
She explained that the duration of the partnership ranges from 5 to 7 years for management and development and at the same time we get a percentage of sales.