Mardev Developments has announced a strategic partnership with Azur Hotels & Resorts to launch and operate Urban Zen branded residences at its Menorca New Zayed project, marking a significant expansion into Egypt’s growing hospitality real estate sector
The agreement positions Azur as the official operator of the serviced residences, with total investments surpassing EGP 1 billion. The development is expected to redefine hospitality standards in West Cairo by combining premium living with professionally managed services
According to Chairman Zohdy Zahran, the partnership reflects Mardev’s long-term vision to deliver high-value real estate assets that go beyond traditional housing by integrating hospitality-driven investment models
He noted that the increasing demand for hotel apartments in West Cairo makes this collaboration particularly timely, ensuring strong occupancy performance and attractive yields for investors
CEO Eng. Ibrahim Zohdy explained that Menorca is a 45-acre mixed-use development in Sheikh Zayed, featuring 160 luxury serviced units distributed across three architecturally distinctive buildings. All units will be delivered fully finished and furnished, offering a turnkey investment opportunity
The project includes a comprehensive suite of lifestyle and hospitality amenities, such as wellness and spa facilities, a modern fitness center, housekeeping services, swimming pools, fine dining experiences, and open green landscapes
Chief Commercial Officer Eng. Mohamed Zohdy highlighted that the project aligns with national efforts to boost tourism infrastructure, especially as West Cairo gains prominence following the launch of the Grand Egyptian Museum
He also pointed out that the integration of Azur-managed residences with the Hilton Garden Inn hotel enhances Menorca’s positioning as a fully-fledged hospitality destination, strategically located near major transport hubs and iconic attractions
Mardev confirmed that this agreement is part of a broader pipeline of international collaborations aimed at setting new benchmarks in Egypt’s real estate and hospitality sectors
Azur Hotels & Resorts stated that Urban Zen will introduce a refined hospitality concept centered on comfort, serenity, and service excellence, while ensuring transparency and long-term value growth for investors