Global Appraisal Tech (GAT) Plays a Key Role in the Valuation of Seven Landmark Hotels within Talaat Moustafa Group’s Strategic Acquisition
April 6, 2025 – October 16, 2025



Global Appraisal Tech (GAT), a leading valuation firm accredited by the Royal Institution of Chartered Surveyors (RICS) and certified by both the Central Bank of Egypt and the Financial Regulatory Authority, announces its participation as one of the key valuation experts in the assessment of seven historic hotel assets acquired by Talaat Moustafa Group through its hospitality arm, ICON.



Valued at approximately USD 800 million upon reaching a 51% ownership stake in Legacy Hotels Company, the transaction represents one of the most significant hotel-sector acquisitions in Egypt in recent years, reinforcing investor confidence in the country’s high-value tourism and hospitality assets.

The hotel portfolio comprises seven of Egypt’s most iconic and historically significant hotels, including Sofitel Legend Old Cataract Aswan, Mövenpick Resort Aswan, Sofitel Winter Palace Luxor, Steigenberger Hotel El Tahrir Cairo, Steigenberger Cecil Alexandria, Marriott Mena House Cairo, and Marriott Omar El Khayyam Zamalek. These assets represent a unique blend of heritage value and long-term investment potential across key tourism destinations.



The acquisition aligns with Talaat Moustafa Group’s growth strategy to expand its recurring income portfolio through premium hospitality investments. With the entry of a strategic international investor injecting USD 882.5 million into ICON, the transaction is expected to rank among the largest foreign direct investment inflows into Egypt in recent years, supporting national economic growth and foreign currency inflows.

GAT’s scope of work included the professional valuation of the hotel assets in accordance with internationally recognized valuation standards, ensuring accuracy, transparency, and reliability to support strategic investment decision-making. This mandate reflects GAT’s proven expertise in valuing complex, high-profile assets within large-scale transactions.

The transaction is projected to significantly enhance the hospitality sector’s contribution to the Egyptian economy by increasing hotel revenues beyond USD 250 million annually, expanding ICON’s portfolio to 15 hotels with approximately 5,000 rooms, while preserving the historical identity of these landmark properties and elevating their operational performance.

About Global Appraisal Tech (GAT):

Global Appraisal Tech (GAT) is a leading valuation firm registered with the Royal Institution of Chartered Surveyors (RICS) and certified by the Central Bank of Egypt and the Financial Regulatory Authority. GAT provides accurate, transparent, and internationally compliant valuation services that support strategic investment decisions and contribute to sustainable national economic development across multiple sectors.