Accor Enters New Cairo with EGP 15bn LUSAIL Development
Accor has signed an agreement with Margins Developments to develop a Novotel hotel and Novotel-branded residences at the LUSAIL project in New Cairo’s Sixth Settlement. The development, valued at over EGP 15bn, features a 120-room hotel and more than 450 branded residential units, marking Margins Developments’ entry into Egypt’s hospitality sector.
A 30-Feddans Mixed-Use Hub
The LUSAIL development spans approximately 30 feddans in the Sixth Settlement, a district gaining prominence due to its proximity to the New Administrative Capital. With a total built-up area exceeding 266,000 square metres, the project integrates hotel infrastructure with residential living, housing the 120-room Novotel alongside the branded residential units.
Operational Oversight and Management
The branded residences will be managed by DEX Squared Hospitality, which will oversee both operations and property management. Kevork Deldelian, CEO of DEX Squared Hospitality, stated that the company will manage the residential component in line with international hospitality and property management standards to deliver a high-quality living experience.
Expansion Strategy in the Egyptian Market
This project represents a continuation of Accor’s presence in Egypt, where the group has operated for more than 45 years. Since the beginning of 2026, Accor has signed projects representing more than 1,300 hotel keys across the country. Raki Phillips, Regional President for Premium, Midscale and Economy Hotels for the Middle East, Africa and Türkiye at Accor, identified Egypt as a strategic growth market, noting that the agreement reinforces Accor’s expansion plans in high-potential locations across the country.
The Shift Toward Integrated Communities
The project reflects the growing momentum behind hospitality-led real estate developments in Egypt, as developers increasingly integrate residential, hospitality and investment components within large-scale mixed-use communities. Mohamed El Aassar, Chairperson of Margins Developments, described the partnership as a key step in the company’s diversification into the hospitality sector. Ashraf Shaheen, CEO of Margins Developments, noted that the project integrates hotel accommodation and branded residences within a single mixed-use destination, creating a comprehensive hospitality and residential experience.
Key Project Details
- Total Investment: Exceeding EGP 15bn.
- Project Size: Approximately 30 feddans.
- Built-up Area: More than 266,000 square metres.
- Components: 120-room Novotel hotel and over 450 branded residential units.
- Location: Sixth Settlement, New Cairo.