Samih Sawiris of Orascom and Henry Giscard d'Estaing, Chairman of Club Med, signed a deal for Club Med to manage a new hotel in Taba Heights. The new hotel will have 394 guestrooms, including 60 family suites, a private beach, and benefit from the resorts other attractions including free resort-wide transportation, an 18-hole championship golf course, and an international marina. The longstanding relationship between OHD and Club Med includes a property at El Gouna, OHD's flagship project, and a joint venture to develop real estate components adjacent to Club Med properties worldwide.