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Tuesday, 22 March 2022

Mandarin Oriental is coming to Egypt, Amazon is doubling delivery capacity, and Elevate Healthcare is linking up wtih Dar Al Handasah

Mandarin Oriental to manage Shepheard Hotel: Hong Kong-based luxury hotelier Mandarin Oriental Hotel Group signed an agreement to manage Downtown Cairo’s historic Shepheard Hotel yesterday, the Public Enterprises Ministry said in a statement. This is the company’s first venture in Egypt, and comes more than a year after it was reported in the local press that it had agreed to manage the property. Saudi Arabia’s Al Sharif Group is refurbishing the hotel, which is slated to open in 2024.

Amazon is looking to double its delivery capacity in Egypt by scaling up its workforce (creating some 2k new jobs) and tech infrastructure in the country, the company said in a statement yesterday.

Elevate Healthcare and Dar Al Handasah Consultants could work together on healthcare, with a recent MoU (pdf) paving the way for Elevate to do business with Dar — and for Dar to potentially become a limited partner in Elevate’s new USD 380 mn healthcare fund.

Other things we’re keeping an eye on this morning:

  • Misr Italia Properties is looking to issue securitized bonds worth EGP 800 mn during 4Q2022, up from a previously planned EGP 700 mn issuance.
  • The China Construction Science and Industry Corporation will establish an iron foundry at China’s TEDA trade zone.
  • Sharm El Sheikh-Baku flights resume: Weekly direct flights between the Azerbaijani capital Baku and Sharm El Sheikh resumed on Friday 18 March.

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