{"id":684986,"date":"2026-02-17T00:00:00","date_gmt":"2026-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/nestle-egypt-picks-bonyans-a5-building-for-its-services-hq\/"},"modified":"2026-02-17T00:00:00","modified_gmt":"2026-02-17T00:00:00","slug":"nestle-egypt-picks-bonyans-a5-building-for-its-services-hq","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/nestle-egypt-picks-bonyans-a5-building-for-its-services-hq\/","title":{"rendered":"Nestl\u00e9 Egypt picks Bonyan\u2019s A5 building for its services HQ"},"content":{"rendered":"

While<\/strong> some <\/strong>parts<\/strong> of the real estate market may be showing signs of a <\/strong>supply glut, Bonyan thinks the<\/strong> smart money is hiding in the grade A office market.<\/strong> Bonyan will hand the keys of its Golden Gate Building A5 in New Cairo to Nestl\u00e9 Egypt in a six-year lease agreement starting next month, according to a statement (pdf)<\/a> from the real estate operating company. The 6.9k sqm building will house the headquarters of Nestl\u00e9 Business Services, the Swiss giant\u2019s service arm.<\/p>\n

Calculated timing:<\/strong> The monthly rental stands at USD 30.4 per sqm, with a 5% annual escalation, projecting EGP 834 mn in revenues over the contract period. This effectively recovers the full EGP 718 mn Bonyan paid to acquire the asset in 2024<\/a> while it was still under construction, CFO Fady Raafat tells EnterpriseAM, referring to the company\u2019s portfolio engineering.<\/p>\n

Why Egypt?<\/strong> The EGP devaluation has made the country a cost-efficient hub for global shared services operations serving Europe, Asia, and Africa. Egypt\u2019s geography helps, as does its talent pool.<\/p>\n

And why Bonyan? <\/strong>Nestl\u00e9 chose Bonyan because it prefers dealing with institutional entities rather than individual owners, coupled with a strong existing relationship across other Bonyan properties, Raafat said.<\/p>\n

Bonyan runs a deliberate currency split<\/strong>, where 54% of its contracts are USD-denominated, without caps or floors, allowing revenues to scale directly with exchange movements. The remaining 46% are in EGP, capturing higher annual escalation rates. Raafat explained that this balance aims to hedge against future devaluations, balancing protection with upside.<\/p>\n

Why this matters: <\/strong>Egypt faces a projected shortfall of 4.5 mn sqm in grade A office space by 2028. Most of the supply<\/a> is chopped into small units, whereas multinationals demand contiguous, 7k-12k sqm floors under one roof, Raafat argues. And they want them leased, not owned, following a doctrine of keeping asset-light \u2014 and falling interest rates won\u2019t suddenly make corporations rush into property ownership, he noted.<\/p>\n

What about the real estate bubble narrative?<\/strong> Raafat draws a clear line: while residential may face oversupply and weakened purchasing power, administrative and commercial real estate remain shielded by genuine demand and structural shortages.<\/p>\n

Bonyan sees 2026 as an inflection point<\/strong>, expecting further interest cuts to lower financing costs and open the door for more leveraged acquisitions. The firm is also studying a move into warehousing and logistics \u2014 another segment where supply lags real demand \u2014 with its first agreement potentially closing this year.<\/p>\n

Sustainability is no longer branding \u2014 it\u2019s compliance.<\/strong> Edge certification has shifted from optional to contractual for global tenants, aligning with international ESG standards. If you don\u2019t build to spec, you don\u2019t get the tenant.<\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

Bonyan leased its Golden Gate Building A5 in New Cairo to Nestl\u00e9 Egypt for six years, starting next month<\/p>\n","protected":false},"author":1,"featured_media":684987,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7335],"tags":[8298,72,3116,12389],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-bonyan","tag-enterpriseam","tag-nestle","tag-the-big-story-today","wpautop","entry"],"acf":{"mongo_id":"89ec4ca4-5b5c-40a0-ad8f-1c786053fa7e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/1069.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Why Bonyan is betting on a 4.5 mn sqm shortfall in premium Egyptian office space","related_issue":[684981],"teaser":"Bonyan leased its Golden Gate Building A5 in New Cairo to Nestl\u00e9 Egypt for six years, starting next month"},"yoast_head":"\nNestl\u00e9 Egypt picks Bonyan\u2019s A5 building for its services HQ - 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The funds will be used to complete the company\u2019s Walk of Cairo project, an outdoor complex in\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543844,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/compass-capital-owned-real-estate-developer-bonyan-acquires-6-east-cairo-office-buildings\/","url_meta":{"origin":684986,"position":1},"title":"Compass Capital-owned real estate developer Bonyan acquires 6 East Cairo office buildings","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"Compass Capital-owned real estate developer Bonyan for Development and Trade has acquired six office buildings in East Cairo to expand its portfolio of commercial real estate assets, Compass announced in a press release (pdf), without mentioning the value of the transaction or whom it acquired the units from. The acquisition\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/298.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544873,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/compass-capital-takes-usd-10-mn-mezzanine-loan-from-south-african-fund-manager\/","url_meta":{"origin":684986,"position":2},"title":"Compass Capital takes USD 10 mn mezzanine loan from South African fund manager","author":"enterpriseam admin","date":"24 March 2022","format":false,"excerpt":"PE outfit Compass Capital has taken out a USD 10 mn mezzanine loan from South African fund manager Vantage Capital to fund the acquisition of six office buildings in New Cairo, according to a statement (pdf). The properties are being purchased by Bonyan Development and Trade, a real estate developer\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":685292,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/18\/kemet-adds-4-7-gw-of-new-renewable-energy-in-upper-egypt\/","url_meta":{"origin":684986,"position":3},"title":"Kemet adds 4.7 GW of new renewable energy in Upper Egypt","author":"enterpriseam admin","date":"18 February 2026","format":false,"excerpt":"Plus: Bonyan locks in new tenant, eyes revenue upside","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/12\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614767,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/bonyan-expands-portfolio-with-acquisition-in-redcons-golden-gate-project\/","url_meta":{"origin":684986,"position":4},"title":"Bonyan expands portfolio with acquisition in Redcon's Golden Gate project","author":"enterpriseam admin","date":"7 February 2024","format":false,"excerpt":"Redcon is eying the residential sector with target properties in the North Coast and Fifth Settlement","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":686511,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/finmin-finalizes-new-medium-term-debt-strategy\/","url_meta":{"origin":684986,"position":5},"title":"FinMin finalizes new medium-term debt strategy","author":"enterpriseam admin","date":"17 February 2026","format":false,"excerpt":"Good afternoon, friends, and happy hump day. We hope you savored your morning brew, as many of us will be saying goodbye to our 8am cup of joe very soon. We\u2019ll know in a few hours\u2019 time whether Ramadan begins tomorrow or on Thursday, as Dar Al Ifta is expected\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/197.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=684986"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684986\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/684981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/684987"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=684986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=684986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=684986"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=684986"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=684986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}