ADD Properties Secures $265m for Egypt Hotel Expansion

ADD Properties, a member of Sami Saad Holding, has secured a $265 million syndicated financing package to expand and upgrade its hospitality portfolio in Egypt, with a new Grand Hyatt hotel in West Cairo as the flagship development.

The planned hotel will overlook the Grand Egyptian Museum and the Pyramids of Giza, placing it close to two of the country’s major cultural attractions.

EFG Hermes, part of EFG Holding, acted as sole financial adviser and bookrunner on the transaction. The financing brings together international development institutions and regional and Egyptian commercial banks.

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Which Banks Are Financing ADD Properties?

The European Bank for Reconstruction and Development is leading the package as initial mandated lead arranger and bookrunner. It is providing the largest individual commitment.

Lender	Financing contribution
European Bank for Reconstruction and Development	$127.5 million
International Finance Corporation	$60 million
Emirates NBD Egypt	$40 million
National Bank of Egypt	$37.5 million
Total	$265 million

Emirates NBD Egypt is also serving as global facility agent, while National Bank of Egypt is the local facility agent. DenizBank AG, part of Emirates NBD Group, is handling offshore security and account-bank responsibilities.

A syndicated financing arrangement allows several institutions to participate in one coordinated package. In this case, it combines development-finance funding with commercial-bank lending to support several parts of ADD Properties’ investment programme.

New Grand Hyatt Hotel Anchors the Expansion

A central component of the funding will support the development of a new Grand Hyatt hotel in West Cairo.

EFG Hermes describes the planned property as having more than 400 rooms, overlooking the Grand Egyptian Museum and Giza Pyramids.

The financing also extends beyond the new hotel. According to the adviser’s announcement, it will support:

The acquisition of hotel assets associated with Hyatt Regency Cairo West and Hyatt Centric Cairo West.
Refurbishment and capital expenditure across existing hospitality assets in Hurghada.
Refinancing of existing hospitality-related debt.
Further development of the group’s hotel portfolio.

The $265 million figure therefore represents the broader financing package. It should not be interpreted as the construction cost of the Grand Hyatt hotel alone.

Investment Covers Cultural and Resort Destinations

The programme connects two different parts of Egypt’s tourism offering.

The West Cairo investment focuses on accommodation near major cultural attractions. The Hurghada expenditure supports existing hospitality assets in a Red Sea resort destination.

That combination gives the financing a wider purpose than adding a single hotel. It supports new capacity while also funding improvements to established properties.

The EBRD’s project disclosure identifies additional uses for the financing, including land and building acquisitions, refurbishment expenditure and future capital investment. It also describes the refinancing and consolidation of existing subsidiary debt.

Sustainability and Staff Training Form Part of the Package

The financing will be accompanied by technical assistance covering environmental performance, workforce skills and corporate governance.

Planned support includes training for young women and men in Cairo and Hurghada, alongside work on green certification and a corporate governance action plan.

The EBRD says the environmental programme includes developing a high-performance hotel and supporting certification of existing assets to LEED Silver standards. These are intended outcomes of the programme, rather than confirmation that every property has already achieved certification.

The training component is intended to strengthen the supply of skills relevant to hotel operations as the portfolio develops.

Why the Financing Matters for Egypt’s Tourism Sector

Large hotel developments require funding for construction and equipment, while existing properties need continuing investment in refurbishment and operations.

The ADD Properties package addresses both requirements. It also includes debt refinancing, which can help reorganise existing financial obligations alongside new investment.

The IFC’s project disclosure identifies potential benefits including employment, foreign-currency earnings, purchases from domestic suppliers and stronger connections with other parts of the economy. These are expected development effects, not results already delivered by the financing announcement.

For West Cairo, the Grand Hyatt development would add branded accommodation near the museum and pyramids. Its eventual contribution will depend on construction progress, operating performance and visitor demand.

What Has Not Yet Been Announced?

The financing announcements reviewed do not establish a firm opening date for the new Grand Hyatt hotel.

They also do not provide a complete public breakdown of how much of the $265 million will be allocated to each hotel, acquisition, refurbishment project or refinancing requirement.

Loan pricing and a detailed repayment schedule were not disclosed in those announcements.

Securing financing is a significant development milestone, but it is separate from completing construction or opening a hotel to guests.

What Happens Next?

Attention will now turn to delivery of the investment programme: development of the Grand Hyatt, expenditure on existing properties and implementation of the training and environmental initiatives.

For ADD Properties, the package provides funding across several priorities rather than a single project. For Egypt’s hospitality sector, it represents another substantial commitment from development institutions and commercial lenders to hotel infrastructure.

The next key milestones will be confirmed construction progress and an announced opening timetable for the flagship property.