In the presence of Mohamed Maait, Egyptian Minister of Finance, Ali Sherif Al-Emadi, Qatari Minister of Finance, and Stephen Mnuchin, US Secretary of Treasury, the Qatari Diar Company inaugurated the St. Regis Cairo Hotel, on Tuesday,
The St. Regis Cairo Hotel is one of the most important Qatari Diar projects in Egypt, with an investment of more than $1 billion, and with a construction area of more than 197,000 square meters, according to a statement by the company through its official account on Twitter.
The Qatari minister's visit to Egypt is the first for a Qatari official in nearly 3 years after the decision to cut ties and close the airspace between the two countries.
"We congratulate the Qatari Diar Company for the opening of this hotel today, which came as a result of the company’s decision to invest in the tourism sector, one of the most vital sectors of the Egyptian economy," Maait said.
On his part, Al-Emadi said, "The State of Qatar, by investing through the Qatari Diar Company in this project, practically confirms its commitment to contribute to supporting local communities and increasing job opportunities. and This project is one of the Qatari investments in Egypt, which exceeds $5 billion in various fields."
US Secretary of Treasury said, "The completion of this project would not have been possible without the efforts of both sides. By this investment, we can see the impact of economic cooperation in creating job opportunities and developing common interests in investment opportunities."
Mnuchin had met President Abdel Fattah El-Sisi, earlier today, during which they discussed ways to strengthen relations between Egypt and the U.S. in many regional issues, on top of which was the Grand Ethiopian Renaissance Dam (GERD) issue.
Today, the countries of the Gulf Cooperation Council (GCC) concluded the 41st summit meeting in the Saudi city of Al-Ula. With Al-Ula declaration, which included binding provisions, the Gulf states will achieve integration, end the boycott, and restore relations with the State of Qatar.
GCC leaders visit Al-Ula's historical city
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