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The First Group’s decision to enter Egypt marks the company’s first international expansion after more than two decades of operating exclusively in the United Arab Emirates.
Through its strategic partnership with Pulse Developments, the Dubai-headquartered hospitality developer aims to establish a long-term platform for internationally branded hotel projects and to position Egypt as a cornerstone of its regional growth strategy.
Speaking on the sidelines of the partnership launch, Nader Elias, Vice President of Business Development at The First Group, explains why Egypt became the company’s first overseas destination, discusses its long-term expansion strategy, and outlines how the company intends to leverage its global hospitality expertise to support Egypt’s tourism sector.
Q: Today’s announcement marks The First Group’s entry into Egypt. Why is this such an important milestone for the company?
This is a defining moment in our company’s history.
Although The First Group has operated for more than twenty years, every project we have developed has been located in the United Arab Emirates. Entering Egypt represents our first expansion beyond the UAE and the start of a broader international growth strategy.
The company was founded by British entrepreneurs and has evolved over the past two decades. We initially focused on residential real estate before transitioning into hospitality, which is now our core business.
We currently have 19 developments in the UAE, and our expertise today lies in developing, operating, and managing internationally branded hospitality assets.
Q: Why did you choose Egypt as your first international market?
Egypt has been on our radar for many years.
For nearly 13 years, we have visited the country regularly to market our UAE projects to Egyptian investors. During that time, we developed a deep understanding of the local market and closely followed the growth of Egypt’s tourism and hospitality sectors.
We believe Egypt offers one of the strongest hospitality investment opportunities in the region.
At the same time, we spent the past two years working closely with Pulse Developments and concluded that they were the ideal local partner to help us establish our presence in the country.
Although we are a British-founded company headquartered in Dubai, Egypt now represents the starting point for our regional and international expansion strategy.
Q: What made Pulse Developments the right partner?
When entering a new market, local expertise is essential.
Pulse Developments combines strong development capabilities with an excellent understanding of the Egyptian market.
Their experience complements our international hospitality platform, allowing each company to focus on its areas of expertise.
That combination creates a partnership capable of delivering projects that meet international standards while responding to local market requirements.
Q: What are your expansion plans within Egypt?
Sharm El Sheikh is only the beginning.
We are currently developing three hospitality projects in Egypt and expect to announce two additional developments within the next six months, alongside Sharm Oasis.
There are several other destinations under evaluation, but it is still too early to disclose specific locations until the relevant agreements are finalized.
Our ambition is to establish a long-term hospitality platform across Egypt rather than focus on a single development.
Q: Does your expansion into Egypt affect your investment plans in the UAE?
Not at all.
Our UAE business continues to grow, and we remain fully committed to that market.
Our strategy is based on diversification, not replacement.
Egypt is the first country in our international expansion plan, but we will continue investing in and developing projects in the UAE while growing our presence abroad.
Q: What is the size of The First Group’s current portfolio?
Today, our project portfolio in the UAE is valued at more than US$5 billion.
As we expand into Egypt, we expect that figure to continue increasing through new hospitality developments in both countries.
More broadly, our objective is to launch approximately two new projects each year across the UAE and Egypt.
Q: Beyond Egypt, are you evaluating other international markets?
Yes.
Our immediate priority is to strengthen our presence in both the UAE and Egypt.
However, we also plan to expand into additional international markets in the coming years as part of our long-term growth strategy.
Egypt is the first chapter of that journey, not the last.
Q: Which investor markets are most important for your sales strategy?
Saudi Arabia has been one of our strongest investor markets since 2014, when we began marketing our Dubai developments there.
Today, our key target markets include Egypt, Saudi Arabia, and Africa.
In Africa, we see significant opportunities in countries such as Nigeria, Ghana, and Angola, as well as in several French- and Portuguese-speaking markets.
Over the past three years, Egypt has become one of our fastest-growing investor markets, making it a natural location for our first international expansion.
Q: How important are international hotel brands to your business model?
They are fundamental.
We are hospitality developers, but we work alongside internationally recognized hotel operators whose brands bring operational expertise, global distribution and customer confidence.
Our portfolio includes partnerships with brands such as Marriott, Millennium, and Wyndham.
These are internationally respected hospitality brands, and we intend to work with operators of the same caliber in Egypt.
The success of any hotel development depends not only on construction quality but also on an experienced global operator that can deliver consistent service standards and maximize long-term asset performance.
Q: How do you view the growing level of Gulf investment in Egypt?
We are seeing increasing interest from regional investors, particularly from the UAE, as confidence in Egypt’s economy and tourism sector continues to strengthen.
Several major investment projects have been announced in recent years, demonstrating the country’s long-term potential.
We hope The First Group will contribute meaningfully to that momentum by bringing international hospitality expertise, attracting overseas investors, and helping elevate hospitality standards in the Egyptian market.
We see ourselves not simply as developers entering a new country, but as long-term partners in Egypt’s tourism growth story, and this is only the beginning.
