Lazura Developments has signed a partnership agreement with Saqr Investment, in cooperation with a banking institution and Farida Real Estate Applications Company, to launch and operate the Luxor Hotel project within the Lazura New Cairo compound. It forms part of Lazura’s broader strategy to introduce mixed-use real estate developments that combine residential units with hospitality services and investment opportunities. For his part, Ahmed Saqr, chairperson of Saqr Investment and Farida Real Estate Applications, said the agreement includes the establishment of an escrow account structure in cooperation with Lazura and a banking partner. He described the move as part of efforts to introduce new real estate investment mechanisms in the local market. The company expects the project to attract both local and international investors seeking income-generating real estate assets in New Cairo.

Source: Daily News Egypt March 15, 2026 17:51 UTC