Developer X for Investment and Development has signed an agreement with Al Borouj Misr to manage and operate The Red Residence hotel and its serviced apartments in the heart of New Cairo’s Fifth Settlement, one of the city’s most prestigious districts, Invest-Gate reports.

Spanning five acres (approximately 21sqm), The Red Residence features a total built-up area of 35,000 sqm. The development includes 120 hotel rooms and 220 serviced apartments ranging from 46 to 140 sqm, designed to cater to diverse investor segments and hospitality guests.

The project offers a full suite of upscale amenities, including international restaurants, a health club with gym and spa, swimming pools, a social club, and landscaped green areas that give it the character of a luxury urban resort.

Its prime location near the American University in Cairo, Golden Square, and major leisure and club zones further enhances the project’s appeal for both investment and tourism.

Developed in collaboration with the renowned Turkish hospitality brand The Red, known for its modern and elegant architectural style, the project aims to deliver world-class operational standards and strong rental returns for investors.

Hazem El Sherif, Chairman of Al Borouj Misr (ABM) and owner of Developer X, stated that the company is expanding its tourism and hospitality investments through several landmark projects across New Cairo, Heliopolis, and the North Coast, in line with its ambitious and well-structured growth strategy.

El Sherif added that this step complements the company’s portfolio of major hotel projects in the New Capital, including Sofitel and Mövenpick within OIA Tower and Sixty Iconic Tower, as well as an upcoming resort hotel in Bianchi North Coast. He affirmed the company’s commitment to strengthening its footprint in Egypt’s luxury hospitality sector in alignment with the state’s vision to boost tourism and real estate investment.