Global hospitality group Accor and Margins Developments have signed an agreement to develop a Novotel hotel and Novotel-branded residences at the LUSAIL Residence project in New Cairo’s Sixth Settlement, marking Margins’ entry into Egypt’s hospitality sector.
The mixed-use development will comprise a 120-room Novotel hotel alongside more than 450 branded residential units. Spanning approximately 30 feddans, the project will feature a built-up area of more than 266,000 square metres, with total investments exceeding EGP 15bn.
Located in New Cairo’s Sixth Settlement, close to the New Administrative Capital, the development is designed to meet rising demand for hospitality and branded residential projects in one of Greater Cairo’s fastest-growing urban districts.
The branded residences will be managed by DEX Squared Hospitality, which will oversee both operations and property management.
The agreement further strengthens Accor’s presence in Egypt, where the hospitality 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 as part of its expansion strategy.
Mohamed El Aassar, Chairperson of Margins Developments, said the partnership represents a key step in the company’s diversification into the hospitality sector through collaboration with leading international operators.
He added that the project supports Margins’ strategy of developing integrated mixed-use destinations while responding to growing demand for branded residences as both an investment asset and a premium residential offering.
Raki Phillips, Regional President for Premium, Midscale and Economy Hotels for the Middle East, Africa and Türkiye at Accor, said Egypt remains a strategic growth market for the group, adding that the agreement reinforces Accor’s expansion plans in high-potential locations across the country.
Ashraf Shaheen, CEO of Margins Developments, said the project integrates hotel accommodation and branded residences within a single mixed-use destination, creating a comprehensive hospitality and residential experience.
Kevork Deldelian, CEO of DEX Squared Hospitality, said the company will manage the residential component in line with international hospitality and property management standards to deliver a high-quality living experience.
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.
