HOSPITALITY-

Property developer Hyde Park plans to invest USD 630 mn in the next five years to build 710 hotel rooms in the North Coast and New Cairo as it aims to diversify its income streams, CEO Amin Serag told Asharq Business. Two hotels under construction on the North Coast will have 310 rooms, with one expected to open in summer 2026. Another two hotels for its Hyde Park project in New Cairo are currently in the design phase, which will together add 400 rooms.

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The company also plans to reveal its first project in Saudi Arabia in 1H 2026, with negotiations ongoing for three land plots in Riyadh, Jeddah, and Al Khobar. It is also exploring an expansion to the Iraqi market.

M&A WATCH-

Abu Dhabi sovereign wealth fund ADQ’s Alpha Oryx trimmed its stake in CIB to 15.7%, down from 18.1%, according to an EGX disclosure (pdf). The firm sold 73.5 mn shares of its stake in the country’s largest listed business by market cap in a block transaction valued at EGP 7.1 bn, or EGP 96.50 per share.

Alpha Oryx will remain the lender’s largest shareholder even if it turns out one of the other shareholders was buying, with 7.4% owned by the National Organization for Social Ins., 6.3% owned by Fairfax Financial Holdings, and 68.2% in freefloat, according to the bank’s website.

Shares of CIB fell 1.8% on the first day of trading following the news, finishing yesterday at EGP 104.1 a share. Despite the recent fall, shares are still up 32.6% from the start of the year.

REAL ESTATE-

Real estate developer The Marq launched a EGP 30 bn integrated business development in New Cairo called Inplace, the company said in a statement (pdf). The 20-feddan project features four districts — Grand Place, Art Place, Nature Place, and Technology Place — offering over 2k serviced business suites ranging between 45-750 sqm. The project will also feature gyms, banks, a supermarket, recreational areas, and rooftop restaurants.

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