EBRD arranges US$265 million syndicated loan for Egypt's ADD Properties
Four lenders share the package, the EBRD's US$127.5 million the largest, to fund a Grand Hyatt near the Grand Egyptian Museum and refinance debt.
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The European Bank for Reconstruction and Development is arranging a syndicated loan of up to US$265 million for ADD Properties, a member of Egypt's Sami Saad Holding, to expand and modernise its hotels, the bank said on 30 October.
The package is anchored by a new Grand Hyatt hotel in West Cairo, near the Grand Egyptian Museum and the Pyramids of Giza. The EBRD said the money would also strengthen the company's capital structure and support the growth of its hotel portfolio while it spends heavily on new assets.
Four lenders and their shares
The EBRD has been mandated as initial lead arranger and bookrunner and provides the largest facility, US$127.5 million. The International Finance Corporation, a mandated lead arranger, lends US$60 million under the Mutual Reliance Framework. Emirates NBD Egypt provides US$40 million and acts as mandated lead arranger, global facility agent and onshore account bank. National Bank of Egypt provides US$37.5 million as mandated lead arranger, local facility agent, onshore security agent and onshore account bank.
The four facilities add up to the US$265 million total, on the Newsdesk's addition. DenizBank AG, a subsidiary of Emirates NBD Group, is offshore security agent and offshore account bank, so two units of the group, whose nine-month results Boards and Capital reported in October, sit on the same loan. EFG Hermes, an EFG Holding company, is sole financial adviser and bookrunner.
A 419-key hotel and older debt
The EBRD's project summary gives more detail. Its loan, approved on 14 May 2026, goes to AlDau Hospitality BV and its fully owned subsidiaries and is set at up to US$132.5 million, against the US$127.5 million facility named in the release. It will finance a new 419-key hotel in West Cairo, refinance or consolidate existing debt of AlDau Hospitality's subsidiaries, pay for other capital spending including land, buildings and refurbishment, and fund future capital spending. The summary puts the total project cost at US$282.7 million.
AlDau Hospitality has five hotels across two complexes in the Giza and Red Sea governorates, with more than 1,800 keys, the summary says. It describes ADD Properties, formerly known as Aldau Development, as the real estate arm of a conglomerate owned by the Sami Saad family that is also active in commercial and residential property, food and beverage, engineering and contracting, and passenger car assembly and trading.
The IFC's disclosure for the project, which it calls Aldau GEM Hotel, lists approval on 26 June 2026 and the status as pending signing.
Governance and green conditions
The loan comes with technical assistance. ADD Properties will put a corporate governance action plan in place, and its existing hotels are to be certified to the LEED Silver standard as part of a green transition across the portfolio, the EBRD said. A training programme for young women and men in Cairo and Hurghada is meant to add skilled staff for the hotel trade. The project summary gives the deal a transition impact score of 72 and environmental category B, and says the client must develop a stakeholder engagement plan for the new hotel and disclose it publicly.
“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,” said Vlaho Kojakovic, the EBRD's director for real estate. Bassel Sami Saad, chairman of ADD Properties, said the partnership “reflects the confidence of leading international and regional financial institutions in Egypt’s investment potential”.
The loan follows other EBRD commitments in Egypt in October, including US$63 million for Scatec's Dandara solar and storage plant, and comes after the central bank raised its key rates by 100 basis points on 29 October. Egypt is a founding member of the EBRD, which has invested more than €16 billion in 238 projects in the country since 2012, the bank said.