{"id":696378,"date":"2026-04-27T00:00:00","date_gmt":"2026-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=696378"},"modified":"2026-04-27T02:43:21","modified_gmt":"2026-04-27T02:43:21","slug":"ifc-nears-usd-100-mn-loan-for-hotel-with-a-gem-view","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/ifc-nears-usd-100-mn-loan-for-hotel-with-a-gem-view\/","title":{"rendered":"IFC nears USD 100 mn loan for hotel with a GEM view"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IFC\u2019s suite spot: <\/strong>The International Finance Corporation (IFC) is in the final stages of approving a USD 100 mn senior secured corporate loan for AlDau Hospitality, part of ADD Properties, to fund a flagship hotel overlooking the Grand Egyptian Museum, according to a <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/52177\/aldau-gem-hotel\" style=\"\">disclosure<\/a> from the lender. The IFC\u2019s board is expected to vote on the financing package next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The loan is part of a larger multi-tranche financing package.<\/strong> The company also secured a USD 110 mn senior loan from the European Bank for Reconstruction and Development (EBRD), and the remaining USD 55 mn is being provided in parallel tranches by unnamed \u201clocal and\/or international financial institutions,\u201d the disclosure reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If approved, the loan will be extended to Marygo Hospitality BV \u2014 <\/strong>the Netherlands-based holding company that manages the hospitality assets of the Sami Saad Group \u2014 with its Egyptian subsidiaries acting as co-borrowers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind Sami Saad\u2019s strategic shift: <\/strong>A household name in Egypt\u2019s contracting sector via its construction arm Samcrete, the Sami Saad Group has quietly cemented its place as a hospitality-led holding company. This move into hospitality \u2014 spearheaded by launching ADD properties (formerly known as AlDau Development) \u2014 gained momentum with the successful reintroduction of the Hyatt brand to Egypt <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/this-morning-welcome-back-to-the-hyatt-a-not-so-warm-welcome-to-truth-social\/\" style=\"\">back in 2022<\/a>. More recently, the company has been focused on more art-integrated, lifestyle-driven projects near the Giza Plateau.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">In other debt news<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ismaelia for Real Estate Investment secured financing from the EBRD to scale its <\/strong><strong>ESG-led redevelopment of heritage assets in Downtown Cairo.<\/strong> The capital will be used to retrofit and transform Downtown properties into operational assets, the developer said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1307.pdf\" style=\"\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1307.pdf\" style=\"\">(pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new financing, worth EGP 30-35 mn, is the second tranche of the EBRD financing facility<\/strong>, bringing total disbursements to date to EGP 90-95 mn out of an agreed facility of EGP 145 mn, Chairman Karim Shafei said in comments to <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/print.aspx?id=169575\" style=\"\">local media<\/a>. The third and final tranche, valued at EGP 50-55 mn, is expected to be drawn down in the coming period, Shafei added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The facility will bankroll Al Ismaelia\u2019s 2026 project pipeline, specifically the Mahmoud Bassiouny boutique hotel and the La Viennoise Retail hub.<\/strong> The Mahmoud Bassiouny project is designed as an immersive stay concept, while the La Viennoise will showcase Egyptian brands and host dining establishments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan is part of a wider USD 265 mn package<\/p>\n","protected":false},"author":1,"featured_media":696379,"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":[7274],"tags":[88,72,955,83,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-696378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam","tag-hospitality","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"a832a8fc-bf64-4278-97b9-66a71a06b48e","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/209.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IFC\u2019s suite spot","related_issue":[696370],"teaser":"The loan is part of a wider USD 265 mn package"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Elsewedy will mainly direct\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","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":596462,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/28\/middle-east-glass-company-may-receive-loan-of-usd-100-mn-from-ifc\/","url_meta":{"origin":696378,"position":2},"title":"Middle East Glass Company may receive loan of USD 100 mn from IFC","author":"enterpriseam admin","date":"28 August 2019","format":false,"excerpt":"The Middle East Glass Manufacturing Company (MEG) is in talks with the International Finance Corporation (IFC) over a USD 100 mn loan to refinance some of its debts and finance its capex plans, the IFC said in a disclosure. MEG is also expected to contribute USD 26 mn from internal\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566059,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/idh-obtains-usd-45-mn-in-financing-from-ifc\/","url_meta":{"origin":696378,"position":3},"title":"IDH obtains USD 45 mn in financing from IFC","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"Consumer healthcare giant Integrated Diagnostics Holdings (IDH) has secured a USD 45 mn debt financing package from the International Finance Corporation (IFC), according to a press release (pdf). The eight-year loan will be used to finance the recently EGX-listed company\u2019s growth plans in high growth emerging markets, in addition to\u2026","rel":"","context":"In &quot;SPEED ROUND: DEBT WATCH&quot;","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-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":608168,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/16\/banque-misr-lands-usd-234-mn-from-ifc-for-msme-support\/","url_meta":{"origin":696378,"position":4},"title":"Banque Misr lands USD 234 mn from IFC for MSME support","author":"enterpriseam admin","date":"16 October 2023","format":false,"excerpt":"Half of the funds will be directed to female-led MSMEs","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/764.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560114,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/ifc-to-provide-usd-30-mn-in-financing-to-glass-maker-pasabahce-egypt\/","url_meta":{"origin":696378,"position":5},"title":"IFC to provide USD 30 mn in financing to glass maker Pasabahce Egypt","author":"enterpriseam admin","date":"16 February 2021","format":false,"excerpt":"The International Finance Corporation (IFC) is lending USD 30 mn to the Egyptian arm of Turkish glassmaker Pasabahce to help it grow exports, improve energy practices, and create more jobs, the lender said in a press release (pdf) yesterday. Pasabahce, a subsidiary of \u015ei\u015fecam Group, will use the proceeds to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/234.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\/696378","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=696378"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/696378\/revisions"}],"predecessor-version":[{"id":696421,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/696378\/revisions\/696421"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/696370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/696379"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=696378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=696378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=696378"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=696378"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=696378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}