IFC, EBRD, the National Bank of Egypt, and Emirates NBD Join Forces with ADD Properties to Create Thousands of Jobs and Boost Sustainable Tourism in Egypt

CAIRO, Egypt, November 1, 2026 - IFC, the private sector arm of the World Bank Group, is investing $60 million in ADD Properties as part of a $265 million financing package to expand sustainable tourism infrastructure in Egypt, helping create thousands of jobs for Egyptians and opportunities for local businesses.

The financing will support the development of the 419-room Aldau Grand Egyptian Museum (GEM) Hotel, which will operate under the Grand Hyatt brand near the Grand Egyptian Museum in West Cairo, as well as upgrades to ADD Properties’ existing hospitality assets in West Cairo and Hurghada.

The new hotel is expected to support 600 direct and 3,860 indirect jobs once operational, in addition to 2,000 to 3,000 jobs during construction. By increasing demand for locally supplied goods and services, the project is also expected to create opportunities for businesses linked to Egypt’s tourism economy.

“The tourism industry is a powerful engine for job creation and economic development globally, and Egypt has great potential to better leverage its unique cultural and natural assets towards these goals” said Ary Naïm, IFC Division Director for North Africa and the Horn of Africa. “Our financing, in partnership with EBRD and others, will support ADD Properties to expand and upgrade its capacity while building sustainability and resilience, creating opportunities for local businesses and communities, and mobilizing private capital.”

The Aldau GEM Hotel is targeting LEED Silver certification, while existing hotels covered by the investment are expected to pursue green-building certification, helping improve energy and water efficiency across the portfolio.

“This partnership reflects the confidence of leading international and regional financial institutions in Egypt’s investment potential and ADD Properties’ long-term vision," said Eng. Bassel Sami Saad, Chairman of ADD Properties, a member of Sami Saad Holding. "Together with our partners, we are advancing sustainable hospitality and branded residences development and in alignment with Egypt Vision 2030. Our new Grand Hyatt overlooking the Grand Egyptian Museum and the Pyramids of Giza embodies our ambition to create lasting value while celebrating Egypt’s extraordinary heritage.”

ADD Properties is an Egyptian real estate and hospitality company with a portfolio of internationally branded hotels in Cairo and Hurghada, including Hyatt Regency Cairo West, Hyatt Centric Cairo West, and three Steigenberger-branded resorts in Hurghada.

The financing package is being arranged by the European Bank for Reconstruction and Development (EBRD), with Emirates NBD and the National Bank of Egypt also participating as investors. The investment is being undertaken under the Mutual Reliance Framework between IFC and EBRD, which enables closer coordination between the international finance institutions to streamline the financing process, reduce duplication, and provide a more efficient experience for partners.

The investment advances the World Bank Group’s focus on creating more and better jobs by unlocking private investment in high-employment sectors. Tourism is one of five sectors identified as having strong potential for job creation, alongside infrastructure and energy, agribusiness, healthcare, and value-added manufacturing. In Egypt, this builds on IFC’s 50-year partnership and the World Bank Group’s broader efforts to enable private-sector-led growth, including nearly $6.7 billion in private capital mobilized since fiscal year 2022.