ADD Properties Secures $265 Million Financing for Giza Grand Hyatt Hotel

ADD Properties, part of Sami Saad Holding, has finalized a $265 million syndicated financing agreement to fund its hospitality expansion, specifically the construction of a 400-room Grand Hyatt hotel near the Grand Egyptian Museum and the Pyramids of Giza.

October 30

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 signed the financing agreement in Giza. EFG Holding served as the financial adviser for the transaction. The facility provides capital for the new hotel development, restructuring of the company’s capital, and consolidation of asset values across its property portfolio.

Technical Assistance Integration

The financing package includes provisions for technical assistance. This component focuses on achieving green building certification, enhancing hospitality skills training, and improving corporate governance standards. These measures are designed to align the company’s operational practices with broader sustainability benchmarks.

Current Status

Bassel Sami Saad, Chairperson of ADD Properties, stated that the agreement demonstrates investor confidence in the Egyptian market and the company’s operations. The Grand Hyatt project is intended to increase the firm’s hospitality footprint while contributing to national tourism goals.

Why it matters: This financing deal highlights continued international and regional interest in Egypt’s tourism infrastructure. By aligning with Egypt Vision 2030, the project aims to leverage the proximity of the Grand Egyptian Museum to attract visitors and support the government’s long-term development objectives for the sector.