ADD Properties signs $265 million Egypt hotel financing

ADD Properties has signed a $265 million syndicated financing agreement to develop a Grand Hyatt hotel overlooking the Pyramids of Giza and expand its hospitality portfolio across Egypt.
The agreement, signed in Giza on 30 October, brings together two international development finance institutions and two commercial banks. The European Bank for Reconstruction and Development (EBRD) is arranging the financing, which will also refinance existing borrowing and support investment in established hotel properties.
The EBRD is providing $127.5 million, the largest contribution, while the International Finance Corporation (IFC) is lending $60 million. Emirates NBD Egypt is contributing $40 million and the National Bank of Egypt is supplying the remaining $37.5 million, bringing the combined commitments to $265 million.
ADD Properties, part of Sami Saad Holding, plans to use the financing for a new Grand Hyatt in West Cairo, close to the Grand Egyptian Museum and the pyramids. The proposed property will have approximately 400 rooms, according to project disclosures, positioning it to serve visitors to the Giza archaeological area.
The package will support acquisitions associated with Hyatt Regency Cairo West and Hyatt Centric Cairo West, refurbishment of existing hospitality assets in Hurghada and other capital expenditure, according to financial adviser EFG Hermes. Part of the funding will refinance hospitality-related debt, allowing the developer to reorganise its borrowing arrangements.
The financing is structured as a multi-tranche facility involving institutions with different lending and administrative responsibilities. EBRD is the initial mandated lead arranger and bookrunner, while IFC participates as a mandated lead arranger under a mutual reliance framework between the development banks.
Emirates NBD Egypt is serving as global facility agent and onshore account bank. The National Bank of Egypt is acting as local facility agent and onshore security agent, while DenizBank AG, part of Emirates NBD Group, is responsible for offshore security and banking arrangements.
EFG Hermes, an EFG Holding company, acted as sole financial adviser and bookrunner, coordinating the financing across the four lenders. The bank described the transaction as one of the larger foreign-led debt facilities undertaken in Egypt’s tourism and hospitality sector over the past few years.
Bassel Sami Saad, chairman of ADD Properties, said the agreement demonstrated lenders’ confidence in Egypt’s investment potential and the developer’s plans. He linked the proposed Grand Hyatt to the company’s strategy of developing hospitality properties and branded residences while incorporating sustainability measures.
The financing comes as hotel developers pursue opportunities around the Grand Egyptian Museum and the Giza Plateau, where tourism infrastructure is being expanded. The new property is intended to take advantage of its proximity to major cultural attractions, although the company has not announced an opening date in the financing statement.
The lenders are attaching technical assistance to the investment, covering environmental performance, workforce development and corporate governance. The programme includes support for a high-performance hotel building and certification of existing hospitality assets to LEED Silver standards, an internationally recognised green-building benchmark.
Additional assistance will help ADD Properties implement a corporate governance action plan intended to strengthen oversight and management practices. Training programmes in Cairo and Hurghada will target young women and men seeking skills relevant to hotel operations, with an emphasis on environmentally responsible practices and employment needs.
Vlaho Kojakovic, EBRD director for real estate, said the financing would support investment in hospitality infrastructure while encouraging stronger sustainability, skills and governance standards. Ary Naïm, IFC division director for North Africa and the Horn of Africa, identified tourism as a source of employment and opportunities for local businesses.
Amr ElShafei, chief executive and managing director of Emirates NBD Egypt, said the bank’s involvement combined its regional lending capabilities with the international operations of DenizBank AG. Mohamed El-Etreby, chief executive of the National Bank of Egypt, identified tourism investment as important for foreign-currency earnings and employment.
The EBRD approved its participation in the wider financing programme in May 2026, while IFC’s project documentation records board approval in June. Earlier project disclosures described financing for hotel construction, land and building acquisitions, refurbishment and debt consolidation.
The IFC classified the hotel investment as environmental category B, indicating that identified environmental and social risks require assessment and management. Its appraisal included visits to existing hotels in West Cairo and the proposed Grand Hyatt site in March 2026.