Aldar-backed SODIC expands in Egypt, to add Nobu hotels, residences

Aldar Properties’ Egyptian real estate platform, SODIC, has announced plans for a comprehensive expansion of the Nobu brand in Egypt.

The expansion will result in the development of two luxury hotels, branded residences, and the acclaimed Nobu restaurant across two of SODIC’s developments in Egypt.

Talal Al Dhiyebi, group CEO of Aldar Properties and chairman of SODIC, said: “The expansion of SODIC’s luxury property development portfolio underscores the demand for new real estate concepts in prime locations in Egypt and Aldar’s belief in the long term growth potential of the market.

“We are confident that these developments will not only solidify SODIC’s market-leading position, but also cater to the increasing demand for distinctive and high-end properties we are witnessing across the growing West Cairo and North Coast markets.”

The agreement builds on Aldar’s recently announced partnership with Nobu to bring a luxury hotel, branded residences and restaurant to Mamsha Beach on Saadiyat Island.

Highlights: The Nobu Hotel and Residences Cairo in Egypt

The Nobu Hotel and Residences Cairo, nestled in SODIC’s signature development in New Zayed – West Cairo’s highly sought after neighbourhood – will comprise single-family residences and exclusive apartments and form an integral part of “The Estates Residences.”

Guests and residents will enjoy close proximity to landmark attractions including the Pyramids, the Great Sphinx, and the Grand Egyptian Museum, which is scheduled to open later this year. Egypt

The Nobu Hotel and Residences Cairo will also provide direct access to the popular North Coast, offering residents a gateway to weekend and holiday escapes.

Spanning 440-acres of beachfront terrain and breathtaking views of the Mediterranean Sea, SODIC’s new North Coast development will feature a Nobu Hotel and Residences.

Situated in the Ras El Hikma area, renowned for its pristine sandy beaches, the project is at the heart of one of the fastest-growing luxury destinations in the region.

SODIC continues to witness a positive trajectory in performance achieving Dhs335m (EGP 2.7bn) in revenue and Dhs976m (EGP8.2bn) in development sales during the first half of 2023.

Moreover, the platform continues to add scale and has further expanded its land bank through the recent acquisition of the Caesar backplot and the 440-acre residential project on the North Coast of Egypt.

Moreover, the announcement follows the upcoming launch of Nobu branded residences, luxury hotel and restaurant on Aldar’s Mamsha Al Saadiyat development.