Lazura Developments has announced a strategic partnership with Saqr Investment, in cooperation with a leading bank and Farida Real Estate Applications Company, to launch and operate the Luxor Hotel project. This marks the first serviced apartment development within Lazura New Cairo Compound in New Cairo, in a deal valued at over EGP 1 billion.
The project aligns with Lazura’s vision to create integrated urban communities that blend luxury residential living, hospitality services, and modern real estate investment opportunities. The hotel units will be managed to meet the highest international hospitality standards, with completion expected within three years.
Ahmed Abdel Hakim, Chairman of Lazura Developments, emphasized that the agreement is a cornerstone of the company’s strategy to introduce innovative integrated developments that offer diverse and advanced living experiences for both investors and clients.
He noted that Lazura New Cairo has been designed as a fully integrated urban community providing a modern residential and investment experience. Partnering with Saqr Investment to launch the Luxor Hotel enhances the project’s investment appeal and adds a new dimension of hospitality services within the compound.
Ahmed Saqr, Chairman of Saqr Investment and Farida Real Estate Applications, highlighted that the agreement activates the escrow account system for the first time in the Egyptian market, in cooperation with Lazura Developments and a major bank. He described the partnership as the beginning of a long-term strategic collaboration to deliver innovative investment solutions in Egypt’s real estate sector.
Saqr added that the Luxor Hotel will operate according to the highest global hospitality standards, ensuring a unique accommodation experience within Lazura New Cairo. He also explained that Farida Real Estate Applications offers a Fractional Real Estate ownership model via a digital platform, allowing investors to purchase shares in hotel units.
This approach opens the door for a wider range of investors to participate in real estate opportunities, with the first batch of units soon to be available through the Farida app.
Ramadan El-Seddik, Board Member of Lazura Developments and Chairman of MSD Contracting, confirmed that the project will be executed on an accelerated timeline using advanced construction technologies to guarantee on-time delivery. He added that MSD Contracting will work closely with Lazura’s implementation teams to complete the development efficiently while maintaining the highest quality standards, following five-star luxury hotel criteria in design, construction, and services.
Meanwhile, Ahmed Fouad, CEO of Lazura Developments, stated that Lazura New Cairo represents a new benchmark for integrated real estate investment in Egypt. He explained that the launch of the Luxor Hotel within the compound reflects the company’s strategy of merging hospitality services with modern residential communities.
Fouad also emphasized that the partnership with Saqr Investment, the Farida platform, and a major banking institution introduces an innovative investment model, enabling investors to benefit from hotel returns while ensuring professional management of units. He added that the project targets a broad spectrum of local and international investors seeking stable investment opportunities in New Cairo’s hospitality and hotel real estate sector.