Accor, a world-leading hospitality group, and Margins Developments, one of Egypt’s leading real estate developers, announce the signing of Novotel & Novotel Residences New Cairo Lusail, a landmark mixed-use destination combining hospitality, branded residences and modern living within a fully integrated community.
The partnership further strengthens Accor’s presence in Egypt, expands its footprint across the country’s emerging urban growth destinations, and marks Margins Developments’ entry into the hospitality sector. The partnership was officially unveiled during a press conference held in Cairo, attended by senior executives from both organizations, investors, strategic partners, and members of the media.
Located within LUSAIL Residence in New Cairo’s rapidly expanding Sixth Settlement, the development spans approximately 30 feddans, with a built-up area exceeding 266,000 square metres and total investments of more than EGP 15 billion. The mixed-use development will feature 120-room Novotel hotel and more than 450 Novotel-branded residences, creating an integrated destination that brings together hospitality and modern living.
Benefiting from its proximity to the New Administrative Capital and extensive infrastructure investments, New Cairo is emerging as one of Egypt’s most attractive destinations for business, education, residential living and international investment. The development responds to growing demand for professionally managed hospitality and branded residential offerings while creating long-term value for guests, residents, investors and the wider community.
Further strengthening the project’s operating ecosystem, Squared Dex, a specialist in branded residences management, will oversee the operation of the residential component, ensuring international service standards, operational excellence, and an elevated ownership experience for residents and investors alike.
The signing marks another milestone in Accor’s continued expansion across Egypt, where the Group has been present for more than 45 years. With more than 1300 keys signed in Egypt this year alone, Accor continues to expand across both established and emerging destinations, reinforcing its confidence in the country’s long-term tourism and economic growth.
As one of the world’s leading midscale hospitality brands, Novotel is ideally positioned to capture the energy and diverse social fabric of New Cairo. Novotel operates more than 620 hotels across over 70 countries, with a pipeline of more than 180 additional properties. Championing Longevity Everyday, Novotel helps business travellers, families and residents live longer, fuller and happier lives through small daily habits that support wellbeing over time.
Commenting on the partnership, 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.
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.”
For his part, Eng. 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.
Providing insight into the project’s operational approach, 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.”
The collaboration reflects a shared ambition to shape the future of hospitality-led urban development in Egypt, combining international hospitality expertise with local market knowledge to create a destination that will serve residents, guests and investors for generations to come.
