Aldar Properties’ Egyptian real estate platform, SODIC, Egypt’s leading real estate developer, in partnership with Nobu Hospitality, the globally acclaimed luxury lifestyle brand, has recently announced plans for a comprehensive expansion of the Nobu brand in Egypt with the development of luxury hotels, branded residences, and the iconic Nobu restaurant.
Industry sources added that this expansion will result in the development of two luxury hotels, branded residences, and the renowned Nobu restaurant across two of SODIC’s distinguished developments in West Cairo and on the North Coast.
The Nobu Hotel and Residences Cairo, nestled in SODIC’s signature development in New Zayed, West Cairo’s up-and-coming neighborhood is set within the meticulously planned expanse of single-family residences and exclusive apartments, the hotel and residences will form an integral part of “The Estates Residences.” Guests and residents will enjoy the proximity of celebrated attractions including the Pyramids, the Great Sphinx, and the highly anticipated Grand Egyptian Museum scheduled to open later this year. The Nobu Hotel and Residences Cairo will also provide direct access to the acclaimed North Coast, offering residents a gateway to convenient weekend and holiday escapes.
Commenting on the announcement, Talal Al Dhiyebi, Group Chief Executive Officer 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.
Industry sources further added that spanning 440 acres of spectacular beachfront terrain, the Nobu Hotel and Residences in the North Coast development will offer breathtaking views of the Mediterranean Sea. Situated in the Ras El Hikma area, renowned for its crystalline waters and pristine sandy beaches, the project is at the heart of one of the fastest-growing luxury destinations in the region. Echoing the immersive vibe of the stylish Nobu brand’s resort projects, the North Coast luxury destination will operate seasonally from May through October.
Ayman Amer SODIC’s General Manager comments: “Our partnership with Nobu is a testament to SODIC’s ability to attract world-class international partners. Nobu’s iconic brand perfectly complements our signature projects, offering “The Estates” and our newest North Coast development communities a seamless and exceptional experience of integrated vibrant hospitality and high-end dining at the highest standards of luxury.”
Trevor Horwell, CEO of Nobu Hospitality, stated: “We are extremely excited about our partnership with SODIC and the launch of these two exceptional projects. Egypt holds a rich history and a vibrant culture, making it an ideal canvas for us to create remarkable spaces that epitomize the essence of Nobu’s luxury and innovation. These developments will not only redefine luxury living but also offer a distinct blend of hospitality and lifestyle experiences for our guests and residents.”
SODIC continues to witness a positive trajectory in performance achieving AED 335 million (EGP 2.7 billion) in revenue and AED 976 million (EGP 8.2 billion) in development sales during the first half of 2023. Moreover, the platform continues to add scale and has further expanded its landbank 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 hotels, and restaurants on Aldar’s highly sought-after and desirable Mamsha Al Saadiyat development.