EBRD backs $265m financing for ADD Properties’ Grand Hyatt hotel in Giza

ADD Properties, a member of Sami Saad Holding, has secured a $265m syndicated financing facility from international, regional and Egyptian financial institutions to support its investment plans, including the development of a 400-room Grand Hyatt hotel overlooking the Grand Egyptian Museum and the Pyramids of Giza.

The financing agreement was signed on October 30 in Giza, in the presence of representatives from the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), Emirates NBD Egypt, the National Bank of Egypt (NBE) and EFG Holding, which acted as financial adviser to the transaction.

The facility will finance the development of the new hotel, while supporting the restructuring of ADD Properties’ capital structure and the consolidation of asset values across its portfolio.

The financing package also includes technical assistance covering green building certification, hospitality skills development and corporate governance, as part of efforts to integrate sustainability standards into the company’s projects and operations.

Eng. Bassel Sami Saad, Chairperson of ADD Properties, said the agreement reflects the confidence of international and local financial institutions in the company’s track record and Egypt’s investment potential.

He added that the Grand Hyatt project forms part of the company’s strategy to expand its hospitality portfolio while supporting the development of Egypt’s tourism sector, in line with the objectives of Egypt Vision 2030.