Dubai – Masaader News
Mercon Development announced the signing of a cooperation agreement with Gewan Hotels and Resorts, the first step in a strategic partnership aimed at providing an integrated hotel residential experience within the Riverton project in New Cairo.
The agreement was signed by Mr. Ahmed Imbaby, Chairman of Mercon, and Mr. Ahmed Hassib, CEO of Jiwan Hotels and Resorts. Under the agreement, Gewan will operate and manage the hotel units within the project, which is being implemented in partnership with Kuwait’s Al Tamayoz Company. The project extends over an area of 25 acres in the Fifth Settlement and includes 120 hotel units and various facilities, including restaurants, meeting rooms, a spa, a swimming pool, and a gym, emphasizing its commitment to international hospitality standards.
In this context, Ahmed Imbaby expressed his happiness, saying, “We are confident that the partnership with Gewan will add a new dimension to the concept of luxury housing and enhance the investment return for project owners, especially given its vital location in front of the American University.”
For his part, Ahmed Hassib emphasized that Gewan offers luxury hotel services along with professional leasing solutions that maximize customer convenience and comfort.
This collaboration coincides with Gewan’s official entry into the Egyptian market, following its success in the UAE, where it announced the launch of more than 1,000 hotel units across five major destinations in New Alamein City and Cairo.
Among the most prominent of these destinations is the 365-unit Gewan Cairo Hotel, an integrated business center in the heart of Cairo; the 425-unit Gewan Resort Hotel and a water park, considered the best in New Alamein City; and the 329-unit Gewan White Beach Hotel, featuring four swimming pools and a picturesque sandy beach. The Jiwan Palace Hotel, which includes 86 luxury units, reflects the Jiwan Group’s vision to provide an exceptional experience that meets the aspirations of all guests.
The company is also preparing to launch one of its most luxurious hotels in New Alamein City, the Jiwan Luxury Hotel, next year.
The Riverton project includes residential villas and distinguished hotel units, with total investments amounting to 20 billion Egyptian pounds.
Mercon is a leading real estate developer in the Egyptian market, and currently owns five real estate projects in the most distinguished locations in New Cairo.
Mercon also owns four commercial and residential projects, including Pavo, G7, Nurai Walk, and Nurai.
The G7 project is one of the most prominent projects in the Fifth Settlement, and consists of administrative and medical units on North 90th Street.
Mercon also participates in several strategic partnerships in Arab markets, most notably in Kuwait and the UAE.