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ADD Developments, the real estate arm of Samcrete Investment Holding, signed a $265 million syndicated financing agreement with a consortium of prominent international, regional, and local financial institutions. This strategic move aims to support the company’s investment expansion in the tourism and hospitality sectors, restructure its capital obligations, and enhance the overall value of its assets.

Prominent Presence of Financial Consortium Leaders

The signing ceremony was attended by key leaders from participating institutions and financial advisors, including:

Eng. Basil Sami Saad, Chairman of ADD Developments.

Vlaho Kojakovic, Director of Real Estate & Tourism at the European Bank for Reconstruction and Development (EBRD).

Cheick-Oumar Sylla / Ari Naïm, Regional Director for North Africa and the Horn of Africa at the International Finance Corporation (IFC).

Amr El Shafei, CEO and Managing Director of Emirates NBD – Egypt.

Mohamed El-Etreby, CEO of National Bank of Egypt (NBE).

Karim Awad, Group CEO of EFG Hermes Holding (Financial Advisor for the transaction).

A New International Hotel Overlooking the Pyramids and GEM

Through this financing, the company plans to construct and develop a new hotel under the renowned "Grand Hyatt" brand, part of Hyatt Hotels Corporation. The hotel will offer 400 rooms in a prime location directly overlooking the Grand Egyptian Museum (GEM) and the Giza Pyramids, aligned with the company's strategy to expand branded residences and hospitality projects.