A Qatari investment company has made an offer and bid to buy the Ramses Hilton Hotel.
This establishment is the largest hotel in the Egyptian capital, Cairo and the company has offered US$320 million for its entire purchase.
Al Kuwari United Group submitted an offer to the Arab International Company for Hotels and Tourism, which owns the hotel.
However the matter is still in the early stages of negotiation.
This offer comes, according to the Al Sharq newspaper website, as part of an agreement between Egypt and Qatar.
This agreement is based on investments and partnerships worth up to $5 billion.
The Ramses Hilton Hotel is the largest in Cairo, and it is a 5-star hotel, consisting of 859 rooms and suites.
It also caters for eight restaurants.
It stands at a height of 36 floors. It is located directly on the Nile in the heart of Cairo.