EBRD arranges US$ 265 million loan for ADD Properties in Egypt

• EBRD, IFC, Emirates NBD Group and NBE provide a syndicated loan of up to US$ 265 million to ADD Properties, a member of Sami Saad Holding, in Egypt
• Financing to support ADD Properties’ long-term growth strategy and the development of a new Grand Hyatt hotel near the Grand Egyptian Museum and Pyramids of Giza
• Technical assistance to support green certification, skills development and corporate governance across ADD Properties’ hospitality portfolio

The European Bank for Reconstruction and Development (EBRD) is arranging a US$ 265 million financing package to support the expansion and modernisation of the hospitality operations of ADD Properties, a member of Sami Saad Holding, in Egypt.

The EBRD has been mandated as the initial lead arranger (IMLA) and bookrunner, and is providing the largest facility, at US$ 127.5 million. The International Finance Corporation (IFC), acting as a mandated lead arranger (MLA) is extending a loan of US$ 60 million by way of the Mutual Reliance Framework.

Emirates NBD Egypt is acting as MLA, global facility agent and onshore account bank, providing US$ 40 million. DenizBank AG, a subsidiary of Emirates NBD Group, is serving as the offshore security agent and offshore account bank. National Bank of Egypt, acting as MLA, local facility agent and onshore security agent, as well as the onshore account bank, is providing a US$ 37.5 million loan. EFG Hermes, an EFG Holding company, is acting as the sole financial advisor and bookrunner on the transaction.

The financing aims to strengthen ADD Properties’ capital structure ADD Properties - Member of Sami Saad Holding, support the continued growth and enhancement of its hospitality portfolio, and consolidate its asset value in a period of significant capital deployment, anchored by the development of a new Grand Hyatt hotel in West Cairo.

ADD Properties’ expansion reinforces Egypt’s national tourism strategy and enhances the hospitality offering in one of the country’s fastest-growing destinations, where cultural and leisure tourism are surging, driven by the opening of the Grand Egyptian Museum and ongoing regeneration of the Giza Plateau.

Bassel Sami Saad, Chairman of ADD Properties, said: “This partnership reflects the confidence of leading international and regional financial institutions in Egypt’s investment potential and ADD Properties’ long-term vision. Together with our partners, we are advancing sustainable hospitality and branded residence development, in alignment with Egypt Vision 2030. Our new Grand Hyatt overlooking the Grand Egyptian Museum and the Pyramids of Giza embodies our ambition to create lasting value while celebrating Egypt’s extraordinary heritage.”

Vlaho Kojakovic, EBRD Director for Real Estate, said: “Egypt’s tourism sector has significant potential to drive investment, job creation and sustainable economic growth. This financing reflects the strength of the partnership between the EBRD and ADD Properties, and our shared ambition to support the long-term development of a more sustainable and competitive tourism sector in Egypt. By supporting ADD Properties’ continued growth and investment in high-quality hospitality infrastructure, including the new Grand Hyatt in West Cairo, we are helping to strengthen Egypt’s tourism offering while promoting higher standards in sustainability, skills and corporate governance. We look forward to building on this partnership as ADD Properties continues to grow and invest in Egypt’s tourism sector.”

Ary Naïm, IFC Division Director for North Africa and the Horn of Africa said: “The tourism industry is a powerful engine for job creation and economic development globally, and Egypt has great potential to better leverage its unique cultural and natural assets towards these goals. Our financing, in partnership with EBRD and others, will support ADD Properties to expand and upgrade its capacity while building sustainability and resilience, creating opportunities for local businesses and communities, and mobilizing private capital.”

Amr ElShafei, Chief Executive Officer and Managing Director of Emirates NBD Egypt, said: “Our participation in this landmark financing reflects Emirates NBD Group’s strong commitment to supporting Egypt’s economic growth and to advancing the development of its strategic real-estate and hospitality sectors. We are proud to support ADD Properties, a prominent real-estate and hospitality developer, in advancing its growth strategy. Emirates NBD Egypt, alongside DenizBank AG, will bring together the strength of our regional banking franchise and our international capabilities to support a complex, large-scale financing transaction. Our collaboration with the EBRD, the IFC and National Bank of Egypt demonstrates the value of strong banking partnerships supporting high-quality investments.”

Mohamed El-Etreby, Chief Executive Officer of National Bank of Egypt, said: “This long-term syndicated facility reflects National Bank of Egypt’s commitment to supporting strategic industries, particularly tourism, which is a vital pillar of the Egyptian economy and a key driver of sustainable growth, increasing foreign-currency proceeds and creating job opportunities. This strategic financing consortium reflects our commitment to fostering strategic partnerships with leading international financial institutions to support high-impact projects that contribute to strengthening Egypt’s position as a leading global tourism destination.”

The financing will be complemented by technical assistance to deliver inclusive, green and market-relevant training programmes for young women and men in Cairo and Hurghada, strengthening the supply of skilled labour in Egypt’s hospitality sector.

Technical assistance will support improvements in corporate governance, with the implementation of a corporate governance action plan aimed at strengthening ADD Properties’ governance practices. The assistance will further support a portfolio-wide green transition, including the development of a high-performance hotel and the certification of existing assets to LEED “Silver” standards.

Through this investment, the EBRD reaffirms its commitment to supporting Egypt’s tourism sector, fostering sustainable growth and enhancing the quality and resilience of hospitality infrastructure.

Egypt is a founding member of the EBRD. Since 2012, the Bank has invested more than €16 billion in 238 projects across the country.