Egypt to Build Hotels Near Pyramids, Investing Hundreds of Millions

Egypt is embarking on a significant revitalization project near the iconic Giza pyramids, aiming to transform the area into a major tourist accommodation hub. The plan involves an investment of at least 32 billion Egyptian pounds, approximately $630 million, to develop hotels and lodging facilities.

The initiative, spearheaded by the Nazlet El-Samman Investors Association, will encompass about 40 hectares adjacent to the pyramids, Sphinx, and the Grand Egyptian Museum. It aims to create up to 40,000 hotel rooms by both upgrading existing structures and building new ones. Currently, over 5,000 unregistered accommodation units operate in the vicinity, contributing to the economy but functioning outside formal systems. The plan includes legalizing these establishments without penalty, allowing for their transformation into boutique hotels or four-star apartments.

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On this area there are dozens of unused houses that could be converted into boutique hotels or four-star apartments, as well as large areas of unused land.

Consultant Mohammed Al-Khatib highlighted the area's potential, noting numerous unused houses suitable for conversion and ample undeveloped land. The estimated cost per room ranges from 600,000 to one million Egyptian pounds. The project faced previous hurdles due to its location within an archaeological zone, which complicated permits for development and led to the deterioration of some buildings. New regulations and approval from the Supreme Urban Planning Council are expected to facilitate this comprehensive renovation.

Notably, the project emphasizes collaboration with the local community and excludes large international investors. This approach aligns with the surging tourism numbers, with the Giza complex attracting 1.3 million visitors in the first four months of 2026, and projections exceeding 4 million by year-end. The Grand Egyptian Museum alone has welcomed 3 million visitors. While current accommodations offer modest pricing, the investment is expected to elevate the standard and cost of lodging in the area.

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The cost of creating one room is estimated at 600,000 to one million Egyptian pounds.