Aldau GEM Hotel (IFC-52177)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cairo
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 22, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Marygo Hospitality BV
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 66.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2026

Disclosed by Bank Apr 23, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, IFC’s proposed investment is a senior secured corporate loan of up to US$100m, to Aldau Hospitality B.V. (the “Holdco” or “Aldau” or the “Borrower”), a Netherlands based holding company owned by Aldau Development B.V., part of the Sami Saad Group, a leading Egyptian conglomerate. Aldau Hospitality B.V. owns and operates a portfolio of five hotels in Egypt and a Netherlands-based tour operator. The hotels are operated by Aldau Hotel Management Company, a sister company of Aldau Hospitality, with franchise agreements to carry the brand names of international hotel operators. The borrower will be the holding company together with its subsidiaries, acting as joint co borrowers. The financing forms part of a US$265 million senior secured multi tranche financing package, arranged alongside EBRS and other lenders. IFC and other Lenders will lend to the Co-Borrowers: Aldau Hospitality BV and its Egyptian subsidiaries who will be jointly and severally liable for the repayment of the loan. The loan will (i) finance the development of a new 400-key hotel in West Cairo in the vicinity of and overlooking the Grand Egyptian Museum and the Pyramids of Giza; (ii) refinance/consolidate existing debt; (iii) finance other Capex-related investments, including land, buildings and refurbishment and (iv) fund future capex.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

AlDau Hospitality, subsidiary of AlDau Development BV, is a leading hospitality company in Egypt, with a portfolio of 5 hotels under 2 complexes spanning over the Giza and Red Sea Governorates with a total of 1,800+ keys, while it intends to develop a new 400-key hotel in West Cairo. The Company is part of ADD Properties (formerly known as Aldau Development), the real estate arm of a larger multiline conglomerate owned by the Sami Saad family and active in a broad spectrum of business lines including commercial & residential real estate, food & beverage, engineering & contracting and passenger car assembling and trading. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - AlDau Hospitality BV Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AlDau Hospitality BV
Ihab Kamel Iskander
General Manager

iiskander@aldaudevelopment.com
Pyramids Heights Business Park, Building C9 Km 22, Cairo - Alexandria Desert Road Giza Egypt
www.aldaudevelopment.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

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ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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