The project is located within LUSAIL Residence in the Sixth
Settlement and spans around 30 feddans, with a built-up area of more than
266,000 square metres and total investments exceeding EGP 15 billion.
It will include a 120-room Novotel hotel and over 450
branded residential units.
The development is designed to meet rising demand for
professionally managed hospitality and branded living spaces in one of Egypt’s
fastest-growing urban areas.
Its location near the New Administrative Capital and
expanding infrastructure is expected to enhance its appeal for residents,
investors and business travellers.
Margins Developments’ entry into hospitality is strengthened
through the partnership, while Accor continues to expand its presence in Egypt.
Squared Dex will manage the residential component,
overseeing operations and service standards for residents and investors.
Mohamed El Aassar, Chairman of Margins Developments, said: “
This partnership represents an important milestone in our long-term growth
strategy as we continue expanding into the hospitality sector through
collaborations with world-class operators. We were looking beyond a globally
recognised brand—we wanted a partner with extensive hospitality expertise and a
shared vision for creating destinations that generate sustainable long-term
value.”
El Aassar added: “Aligned with Egypt Vision 2030, Novotel
Hotel & Residences New Cairo Lusail reflects our ambition to develop
integrated destinations that contribute to the country’s urban, tourism and
economic development. We strongly believe branded residences represent one of
the most promising real estate segments, offering homeowners an elevated
lifestyle while providing investors with professionally managed,
income-generating assets backed by internationally recognised hospitality
standards.”
Raki Phillips, Regional President for the Premium, Midscale
& Economy division across the Middle East & Africa & Türkiye at
Accor: “ Egypt remains one of Accor's most important growth markets, and we are
delighted to strengthen our collaboration with Margins Developments through the
signing of Novotel Hotel & Novotel Residences New Cairo Lusail. This
partnership reflects our long-term commitment to expanding our footprint in
Egypt by introducing globally recognised brands into high-potential
destinations. As hospitality continues to evolve, branded residences have
become an increasingly important part of our growth strategy, extending
Novotel’s trusted hospitality experience beyond traditional hotels into
residential living. Together, we are creating a destination that supports New
Cairo's continued evolution while delivering lasting value for guests,
residents, owners and the wider community.”
Ashraf Shaheen, Chief Executive Officer of Margins
Developments, described the project as a flagship addition to the company's
growing portfolio and a reflection of changing market dynamics: " Novotel
Hotel & Residences New Cairo Lusail has been designed as a fully integrated
destination where hospitality, residential living and investment come together
seamlessly. Every element of the project has been carefully planned to deliver
an exceptional guest and resident experience while introducing a new generation
of professionally managed real estate assets designed for sustainable long-term
value.
Kevork Deldelian, Chief Executive Officer of DEX Squared Hospitality, stated: " Outstanding hospitality is built on strong partnerships. By combining Margins Developments' vision, Accor's globally recognised Novotel brand and DEX Squared Hospitality's operational expertise, we are creating a destination that will set a new benchmark for hospitality experiences in New Cairo. Our focus is to bring the Novotel brand promise to life through operational excellence, exceptional guest experiences, talent development and disciplined asset management." -TradeArabia News Service