Emirates NBD Egypt Joins $265 Million Deal to Finance ADD Properties’ Hospitality Expansion
Emirates NBD Egypt has joined a $265 million syndicated financing transaction for ADD Properties, committing $40 million to support the real estate developer’s long-term expansion plans in the hospitality sector.
The financing will contribute to the company’s wider portfolio development, including a new hotel operating under the Grand Hyatt brand in West Cairo.
The transaction also expands Emirates NBD Egypt’s role beyond lending. The bank is acting as Mandated Lead Arranger (MLA), Global Facility Agent and Local Account Bank, while DenizBank AG, an Emirates NBD Group subsidiary, has been appointed Offshore Security Agent.
EBRD and IFC Lead the Financing Structure
The $265 million package is backed by four financial institutions.
The EBRD is contributing $127.5 million and serving as Initial Mandated Lead Arranger and Bookrunner. The IFC is providing $60 million through an intercreditor arrangement.
Emirates NBD Egypt is supplying $40 million, while the National Bank of Egypt is contributing $37.5 million and undertaking several local financing roles, including Mandated Lead Arranger, Local Facility Agent, Local Security Agent and Local Account Bank.
EFG Hermes, a subsidiary of EFG Holding, is advising on the transaction and acting as Bookrunner.
Bank Highlights Strategic Importance of Tourism Investment
Amr El Shafei, CEO and Managing Director of Emirates NBD Egypt, said the transaction reflects the group’s commitment to supporting Egypt’s economy through investment in real estate and tourism.
He explained that the project supports efforts to increase hotel capacity and is aligned with the national vision for developing the areas surrounding the Grand Egyptian Museum as an international hub for tourism and investment.
El Shafei also said the bank is supporting ADD Properties, which belongs to Sami Saad Holding Group, in advancing its growth strategy and developing its sixth hotel under the Grand Hyatt brand.
He added that cooperation among Emirates NBD, the EBRD, IFC and the National Bank of Egypt demonstrates how strong banking partnerships can mobilise international capital for quality investment projects.
Hotel Development and Portfolio Growth
The financing is intended to strengthen ADD Properties’ capital structure and increase the value of its hospitality assets.
The new Grand Hyatt hotel in West Cairo represents a central component of the investment, with the project expected to add to the area’s accommodation capacity.
Green Hospitality and Workforce Development
Beyond hotel development, the financing includes technical assistance aimed at building the capabilities of young male and female professionals in Cairo and Hurghada.
The programme also supports the company’s corporate governance framework through a Corporate Governance Action Plan (CGAP).
In addition, the package promotes environmental improvements across ADD Properties’ hospitality portfolio. Its scope includes the development of a high-performance hotel and efforts to secure LEED Silver certification for existing assets.