Tourism Minister Sherif Fathi said the proposed projects align with government initiatives to boost tourism investment and drive record growth in the sector.
The Greek Ministry of Development has approved subsidy support for six hotel projects in Piraeus, Rhodes, Paros, Samos, Ikaria, and Limnos, with total eligible costs exceeding €19 million.
The agreement with Misr Italia Properties and People & Places Real Estate Development covers five mixed-use developments and a standalone hotel, targeting 373,000 annual tourists.
Backed by Singapore's GIC, the luxury operator plans to open Ikos Kissamos in Crete in April 2026 and a flagship resort in Halkidiki by 2029, while expanding into Iberia.
Prime Minister Madbouly witnessed the agreement between Marriott International, Misr Italia Properties and People & Places Developments to build hotels and branded residences in coastal and urban loca
The ibis North Coast Sidi Kerir, developed with Trust Contracting, targets year-round tourism demand in the rapidly evolving region west of Alexandria.