EBRD arranges $265mln financing for ADD Properties' Egypt hospitality expansion

By Marwa Abo Almajd

The European Bank for Reconstruction and Development (EBRD) is arranging a $265 million financing package to support the expansion and modernisation of ADD Properties' hospitality portfolio in Egypt, including the development of a new Grand Hyatt hotel in West Cairo.

ADD Properties, a member of Sami Saad Holding, will use the financing to strengthen its capital structure, support investment in its hospitality assets and enhance the value of its portfolio, according to EBRD’s press statement.

The EBRD is acting as initial mandated lead arranger and bookrunner, providing the largest loan facility of $127.5 million.

The International Finance Corporation (IFC) is providing $60 million as a mandated lead arranger under the Mutual Reliance Framework.

Emirates NBD Egypt is contributing $40 million and will act as a mandated lead arranger, global facility agent and onshore account bank.

The National Bank of Egypt is providing $37.5 million and will serve as a mandated lead arranger, local facility agent, onshore security agent and onshore account bank.

DenizBank, a subsidiary of Emirates NBD Group, is acting as offshore security agent and offshore account bank.

EFG Hermes, part of EFG Holding, is serving as sole financial adviser and bookrunner for the transaction.

The financing will support ADD Properties' (formerly known as ALDAU Development) hospitality investment programme, anchored by the planned Grand Hyatt development in West Cairo.

The package will also be complemented by technical assistance to support the company's environmental and corporate governance initiatives.

These include the development of a high-performance hotel, certification of existing hospitality assets to LEED Silver standards, and improvements in corporate governance.

The technical assistance will also support training programmes for young women and men in Cairo and Hurghada, focusing on skills relevant to the hospitality sector.

The announcement did not disclose the Grand Hyatt project's investment value, room capacity, construction schedule or expected opening date.

In June 2025, ADD Properties had announced a strategic investment plan exceeding $200 million, backed by international financial institutions in the hospitality and branded residence sectors, which includes collaboration with Hyatt to grow more Hyatt brands across Egypt.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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