Saturday, May 18, 2024

Alaa Mubarak sparks a conversation with a tweet about his aim to offer stakes in historic hotels in Egypt


DUBAI, United Arab Emirates (CNN) — Alaa Mubarak, the son of former Egyptian president Mohammed Hosni Mubarak, has asked former Egyptian President Mohammed Hosni Mubarak’s son to talk about alternative ways to achieve the goal of providing several historic and archaeological hotels in Egypt to generate dollar income.

Alaa Mubarak said in a tweet on Thursday evening on his official Twitter page: “Egypt has ancient and historical hotels, some of which are located on the banks of the Nile and at the foot of the pyramids, the old Cataract Hotel in Aswan, Marriott Mena House Hotel, Winter Palace Luxor, Cairo Marriott, etc.

Alaa Mubarak also wonders: “Does the stock offered to investors by a holding company for hotels include these historic hotels? What is the purpose of offering it?”

And, “If the goal is to finance and rehabilitate some of them, there are alternative ways to achieve the goal, ensuring the preservation of these ancient properties rather than giving them away. But if the purpose of giving away these historic hotels is to collect dollar income to reduce pressure on the local currency, whatever this effect may be, it does not reflect the true value of this national treasure.”

He concluded: “These properties should not be presented or valued as mere ordinary hotels, as they are precious hotels by all standards, as they are considered historical hotels of national wealth and architectural and heritage value” according to his description.

Tweeters have commented on what Alaa Mubarak said, and we track down the most prominent of them for you:

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A tweeter said: “Egypt does not currently invest in dinars or dollars. In the past, yes, during the time of President and beloved Hosni Mubarak, I have shown a thousand kindnesses by guaranteeing the rights of foreign, Arab, Gulf investors.”

Another tweeter said: “Always all respect to your honor, I agree with you so much … And God’s mercy and heaven and its bliss upon President Muhammad Hosni Mubarak, God willing.”

Rolf Colon
Rolf Colon
"Creator. Award-winning problem solver. Music evangelist. Incurable introvert."

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