Novara Holding and MR1 have signed cooperation protocols with key project partners to support the development of Giza Downtown, an integrated destination in Giza combining hospitality, entertainment and services.
The event also marked the launch of MR1, an Egyptian hospitality brand being developed in partnership with artist and entrepreneur Mohamed Ramadan.
The press conference and signing ceremony brought together Eng. Mohamed Shibl, Chairman of Novara Holding; Mohamed Ramadan, partner in launching MR1; and Dr. Ashraf Sobhy, former Minister of Youth and Sports. The event also welcomed prominent public figures, business leaders, artists and representatives of companies participating in the project.
The ceremony took place on October 6 to commemorate the anniversary of Egypt’s October victories. The partners highlighted the occasion’s themes of determination, ambition and achievement as values that guide their investment vision and commitment to creating economic value in Egypt.
Novara Holding Expands Partnerships for Giza Downtown
The ceremony witnessed the signing of several cooperation protocols to support the development of Giza Downtown and strengthen the expertise involved in the project.
The partners include Orange, OBMI, KAD, DEX and Concord for Contracting, led by Eng. Ahmed El-Abd. KAD specializes in leasing, managing and operating shopping centres and major retail brands, while DEX focuses on hospitality and the development of hotels and tourist resorts.
The agreements form part of Novara Holding’s strategy to create an integrated destination in Giza. The project aims to bring together hospitality, entertainment and services through collaboration with specialized companies and experienced partners.
Rather than focusing solely on real estate development, the vision emphasizes the integration of design, operations, hospitality and services to create a distinctive destination and strengthen the project’s investment value.
Ashraf Sobhy Praises the Project’s Ambition
Dr. Ashraf Sobhy, former Minister of Youth and Sports, attended the ceremony and praised the ambition and determination demonstrated by Mohamed Shibl and Mohamed Ramadan.
He expressed pride in their efforts to develop a project that could deliver added value to the Egyptian economy.
Sobhy also highlighted the importance of supporting entrepreneurs who turn their ideas and ambitions into practical projects. He noted that investment, creativity and collaboration can contribute to economic development and create new opportunities for growth.
He welcomed initiatives that seek to build on Egyptian expertise and capabilities while developing projects with ambitions beyond the local market.
Mohamed Shibl: Giza Downtown Aims to Create an Exceptional Destination
Eng. Mohamed Shibl, Chairman of Novara Holding, said that holding the signing ceremony on October 6 carried special significance because of the anniversary of Egypt’s October victories.
He described the occasion as a source of inspiration for the company’s investment approach, emphasizing the importance of vision, determination and collaboration in developing major projects.
Shibl highlighted Giza’s exceptional tourism and investment potential. The governorate benefits from its historic landmarks, including the Pyramids of Giza, its strategic location and its connection to Greater Cairo.
These advantages, he said, create opportunities for developments that can generate economic value and strengthen the area’s tourism appeal.
He added that Novara Holding’s ambition extends beyond developing a real estate project. The company seeks to create an integrated destination that builds on the location’s potential and combines hospitality, entertainment and services.
Shibl also stressed the importance of productive investment, maximizing the value of local resources and developing Egyptian brands capable of competing internationally.
In this context, he described the launch of MR1 within Giza Downtown as an important step towards building an Egyptian hospitality brand with the potential to expand into international markets.
He concluded that Novara Holding aims to develop projects that deliver lasting value, reflect the character of their locations and demonstrate the capabilities of Egyptian companies working alongside specialized local and international partners.
Mohamed Ramadan Targets an Egyptian Hospitality Brand with Global Ambitions
Artist and entrepreneur Mohamed Ramadan expressed his enthusiasm for partnering with Mohamed Shibl, saying that their shared vision, mindset and ambitions encouraged him to pursue the investment opportunity.
Ramadan said his international travels and experiences had strengthened his appreciation of Egypt’s potential and opportunities. He described investing in his home country as an important way to translate personal success into a project that contributes to the national economy.
His involvement in launching MR1 at Giza Downtown marks the beginning of a broader ambition to establish an Egyptian hospitality brand with a distinctive identity.
According to Ramadan, the brand will focus on service quality, attention to detail and a comprehensive guest experience to compete with international hospitality brands.
He added that the objective goes beyond introducing a new brand to the Egyptian market. The longer-term ambition is to develop a hospitality concept that can evolve and expand into overseas markets, reaching customers from different cultures and backgrounds.
Ramadan also highlighted the significance of announcing the partnership on the anniversary of the October victories, describing the occasion as a symbol of determination and achievement.
He expressed his pride in launching an investment initiative rooted in Egypt with aspirations for international growth.
Giza Downtown Builds on Novara Holding’s Development Vision
The cooperation protocols reflect Novara Holding’s approach to destination development, which integrates architecture, hospitality, services and operations rather than focusing solely on buildings.
Giza Downtown also forms part of the company’s broader development vision, which includes Reve du Nil in Cairo and Reve D’ile on the Red Sea coast. The company has placed particular emphasis on hospitality and cooperation with specialized brands and experienced operators.
Through its partnership with Mohamed Ramadan to launch MR1, Novara Holding aims to add a hospitality dimension to Giza Downtown and build a brand with its own identity and long-term growth potential.
The initiative reflects a broader ambition to make investment in Egypt about more than constructing real estate. It also focuses on building brands, creating new experiences and maximizing the country’s tourism and economic potential.
By combining specialized partnerships with an Egyptian hospitality concept, the project aims to contribute to the national economy and support the international reach of Egyptian products and services.
Photo Gallery: Giza Downtown Partnership Signing Ceremony
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