Egypt’s Almarasem Development plans to open its $120 million Lake Residence hotel apartments, located within the Fifth Square project in New Cairo, between late 2026 and early 2027 a senior company executive told Zawya Projects.
The development will include around 600 hotel apartment keys and will be operated by UAE-based hospitality group Rotana, the official who wished to remain anonymous said.
The executive said the commercial mall within the Fifth Square project will be delivered in three phases with Phase 1 by the second quarter of 2026; Phase 2 by second quarter of 2026 and final phase by December 2026.
He said company plans to begin delivering the first phase of its Marville New Zayed project by October 2026.
The Marville development spans about 111 acres, with the first and second phases comprising 480 residential units across 45 buildings.
(Writing by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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