EBRD Arranges US$265 Million Financing for Egypt Hospitality Expansion

On 1 November, the European Bank for Reconstruction and Development announced a financing package of up to US$265 million for ADD Properties to expand its Egyptian hospitality portfolio. The package includes a US$127.5 million EBRD facility and a US$60 million IFC loan, supporting a new 419-room Grand Hyatt hotel in West Cairo and upgrades to existing hospitality assets. The development creates opportunities for hotel suppliers, tourism operators and hospitality-service companies. HPC can support tourism investment research, supplier partnerships and hospitality-market development.

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