• Home
• News

Retaj Hotels & Hospitality has signed a strategic cooperation agreement with Al Jazeera Finance, allowing Qatari citizens and residents in the State of Qatar to access Islamic financing solutions for purchasing and owning real estate in Egypt through a Sharia-compliant "IJARA (Lease ending with ownership)" scheme.

Signing Details and Participating Parties

The signing ceremony was witnessed by Sheikh Nayef bin Eid Al Thani (Chairman of Retaj Group) and Mr. Amer Mohamed Saeed Al Jabri (CEO of Al Jazeera Finance), in the presence of Mr. Medhat El Nouby (CEO of Retaj Hotels & Hospitality), Mr. Islam Yousry (Regional Director of Business Development), and several executives from both companies.

This partnership marks the initial launch from the Egyptian market, paving the way for future expansions in other agreed-upon countries and markets.

Financing Mechanisms, Ownership Transfer, and Hotel Management

The partnership merges financing solutions with operational services to guarantee a seamless end-to-end experience for clients:

Financing Aspect: Al Jazeera Finance will process client applications and offer financing products in accordance with its approved criteria and standards.

Ownership Procedures: Retaj Hotels & Hospitality will manage procedures related to purchasing and registering units in coordination with real estate developers in Egypt, leading up to final title transfer upon full payment.

Operations and Subleasing: Retaj will provide hotel management, operation, and subleasing services under independent contracts, offering an ideal solution for investors and Qatar-based owners to efficiently manage their overseas properties.

Leadership Vision: Meeting Client Needs and Expanding in Egypt

Sheikh Nayef bin Eid Al Thani emphasized that this step comes in response to growing demand for property ownership in Egypt. He noted that Retaj’s portfolio of nearly 40 hotel properties strengthens its capability to deliver professional management services that cater to families and investors alike.

For his part, Mr. Amer Mohamed Saeed Al Jabri stated that the agreement introduces innovative Sharia-compliant financing options for Qatar's citizens and residents. He highlighted that integrating Islamic finance with hospitality expertise ensures clear roles and smooth transactions for real estate investors in Egypt.