Egypt-based real estate developer LMD has signed an agreement with Marriott International to bring Africa’s first “W” branded residences to its flagship mixed-use project in New Cairo, or “One-Ninety,” Invest-Gate reports.
Set to open in 2024, “W Residences Cairo” will feature 300 residential units, as part of the bigger complex composed of “W Cairo,” which is expected to mark the debut of W Hotels in Egypt. That is in addition to a clubhouse that boasts a fitness center, jogging track, games room, library, swimming pool, and more, according to the company’s official statement on November 30.
Vice President, Mixed-Use Development (Middle East and Africa), at Marriott International Jaidev Menezes noted, “Following the announcement of W Cairo earlier this year, we are delighted to work with LMD to now launch our first residence development under the W brand in Africa. There is a growing demand for luxury living in Egypt and the W Residences Cairo will be a great fit for the One-Ninety development with its vibrant design and impeccable service.”
On his part, CEO of LMD Amr Sultan indicated, “We seek to work with recognized experts in their fields to achieve true competence and deliver on our promises by an innovative approach to luxury and lifestyle living. We are excited to collaborate with Marriott International to launch the signature W Residences and introduce a new segment of premium-quality living and lifestyle to New Cairo.”
W Residences Cairo will be adjacent to the 75,000-square-meter administrative building, dubbed “Office Park,” which features state-of-the-art office spaces with a built-up area of 200,000 square meters, together with an array of premium retail components touching down in Egypt exclusively at One-Ninety.
With a total built-up area of 450,000 square meters, One-Ninety offers a mix of administrative, retail, commercial, and residential properties, coming with investments estimated at USD 2 bn (EGP 31.3 bn).