EBRD-led syndicated facility will fund a new Grand Hyatt near the Pyramids, refinance debt and modernise existing hospitality assets.
CAIRO, The National Bank of Egypt (NBE) has committed $37.5 million to a syndicated financing package of up to $265 million, led by the European Bank for Reconstruction and Development (EBRD), to support ADD Properties’ hospitality expansion, including a new 400-room Grand Hyatt hotel overlooking the Grand Egyptian Museum and Giza Pyramids.
The agreement, signed on October 30, brings together the EBRD ($127.5 million), International Finance Corporation ($60 million), Emirates NBD Egypt ($40 million) and NBE ($37.5 million). NBE accounts for 14.2% of the facility and serves as a mandated lead arranger and local facility agent. EFG Hermes acted as sole financial adviser.
The financing extends beyond hotel construction. ADD Properties, part of Sami Saad Holding and chaired by Bassel Sami Saad, will use the facility to refinance existing debt, strengthen its capital structure, develop the new Grand Hyatt and fund acquisitions, refurbishment and future investment across its hospitality portfolio in Cairo and Hurghada. The amount allocated specifically to the new hotel has not been disclosed.
NBE Chief Executive Mohamed El-Etreby described tourism as a strategic source of foreign exchange, employment and economic growth, saying the bank’s participation reflects its commitment to financing long-term private-sector investment alongside international institutions.
The package also provides technical assistance for hospitality workforce training, stronger corporate governance and environmental improvements, including plans to secure LEED Silver or equivalent certification for hotel assets.
The investment comes as Egypt seeks to turn rising visitor numbers into greater hotel capacity and foreign-currency earnings. Tourism arrivals reached nearly 19 million in 2025, while Tourism Minister Sherif Fathy expects approximately 20 million in 2026, against a national ambition of 30 million annually by 2030. Government figures identify 185 hotels with approximately 46,000 rooms under construction in 2026.
The transaction illustrates how international development finance and Egyptian commercial banks are combining resources to support tourism investment. Its ultimate economic value will depend on timely project completion, hotel occupancy, visitor spending and the ability to convert new capacity into sustainable foreign-currency revenues.
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