10 Hrs
Source:
الاقتصادية
Source: الاقتصادية
10 Hrsالاقتصادية
Source: الاقتصادية
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ADD Real Estate, a subsidiary of Sami Saad Holding Group, has secured an international financing package worth $265 million to fund hotel projects in Egypt and refinance existing debt related to the hospitality sector. The financing was provided by the European Bank for Reconstruction and Development and the International Finance Corporation, alongside Emirates NBD Egypt and the National Bank of Egypt. The funds will be used to develop a new Grand Hyatt hotel with more than 400 rooms, overlooking the Grand Egyptian Museum and the Pyramids of Giza, and to acquire the hotel assets of Hyatt Regency Cairo West and Hyatt Centric Cairo West. They will also be used to renovate and upgrade the group’s hotel portfolio in Hurghada and refinance debt in the hospitality sector.
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