Aldar-owned Sodic to build third Nobu hotel in Egypt

Sodic

Sodic, the Egyptian real estate subsidiary of the UAE’s Aldar Properties and Nobu, the US-headquartered luxury lifestyle brand, have signed up to develop their third hospitality project in Egypt.

The Nobu Hotel and Restaurant, which will come up in east Cairo, will open next year, the developer said in a statement.

The cost of the project was not given.

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The other two ventures – Nobu Hotel, Restaurant, and Residences – are located in west Cairo and North Coast Egypt. 

Aldar partnered with Nobu Hospitality in November 2023 to launch a new luxury hotel, branded residences and a fine dining experience at Abu Dhabi’s Mamsha Al Saadiyat.

The agreement will see the Abu Dhabi-listed developer build a five-star hotel featuring 165 rooms and suites, including the rooftop Nobu villa.

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Japanese chef Nobu Matsuhisa, actor Robert De Niro and film producer Meir Teper founded the global lifestyle brand in 1994. Initially focused on restaurants, it expanded into branded hotels in 2013, with its first location in Las Vegas.

Egypt provides an ideal setting for Nobu, drawing inspiration from the country’s vibrant atmosphere, the three founders said.

Sodic’s full-year revenue stood at AED1.2 billion ($327 million), with EBITDA at AED227 million, Aldar said in its 2023 financial statement. Sales stood at AED1.3 billion in Q4 2023 and AED3.6 billion in 2023.

Nobu has 41 hotels, 77 restaurants and 12 residences worldwide.