Matouk Bassiouny & Hennawy Advises IGI Holding on Nationwide Joint Venture with Hotel101 to Develop Hospitality Projects Across Egypt

The partnership will commence with the development of Hotel101-Cairo West, an approximately 750-room hotel in 6th of October City, near the Giza Pyramids and the Grand Egyptian Museum. With a projected total project value of approximately EGP 5.465 billion (US$102.09 million), the hotel is expected to rank among Cairo’s three largest hotels by room count. Completion is targeted for 2029, subject to customary approvals. 

The agreement marks Hotel101’s first entry into Africa and brings together IGI Holding’s established presence and experience in Egypt’s real estate sector with Hotel101’s globally standardised, technology-enabled hospitality model. The joint venture aims to introduce Hotel101’s hospitality concept to Egypt, with plans to develop and operate properties across the country. 

Commenting on the transaction, Tamer El Hennawy, Partner and Co-Head of Capital Markets & Corporate M&A at MBH, said: “This transaction represents an important step in the development of Egypt’s hospitality sector, bringing together an established Egyptian real estate developer and an international hospitality brand with an innovative, scalable business model. We are pleased to have advised IGI Holding on this landmark partnership, which reflects continued investor interest in Egypt’s real estate and tourism sectors and creates opportunities for further development in the market.” 

The MBH team advising on the transaction was led by Tamer El Hennawy (Partner and CoHead of Capital Markets & Corporate M&A), with support from Omar Elshabassy (Senior Associate), Ahmed Nour (Associate), and Mostafa Ali (Associate).