Real Estate Aldar-owned Sodic to launch Nobu brand in Egypt By Pramod Kumar September 3, 2023, 8:12 AM Aldar Struan Mckenzie, chief operating officer of Nobu Hospitality, Trevor Horwell, CEO of Nobu Hospitality, Ayman Amer, general manager of Sodic, and Heba Makhlouf, chief investment officer of Sodic, at the signing ceremony The Egyptian real estate subsidiary of Abu Dhabi’s Aldar Properties is set to launch two hotel projects that will include branded Nobu residences and restaurants. Sodic and the US-based luxury lifestyle brand have agreed to develop the projects in West Cairo and North Coast. “The expansion of Sodic’s luxury property development portfolio underscores the demand for new real estate concepts in prime locations in Egypt and our belief in the long-term growth potential of the market,” said Talal Al Dhiyebi, group CEO of Aldar Properties and chairman of Sodic. A consortium comprising Aldar and Abu Dhabi investyment holding company ADQ owns 85.52 percent of Sodic. Aldar in November partnered with Nobu Hospitality 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 luxurious rooms and suites, including the rooftop Nobu villa. 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. The Nobu Hotel and Residences Cairo, located in Sodic’s development in New Zayed – West Cairo, will consist of single-family residences and upscale apartments, becoming a part of The Estates Residences. The project will be in close proximity to attractions, including the Pyramids, the Great Sphinx, and the highly anticipated Grand Egyptian Museum, scheduled to open later this year. With 440 acres of beachfront and Mediterranean sea views, the new North Coast development in Ras El Hikma will house Nobu Hotel and Residences. The Egyptian developer reported revenue of AED335 million (EGP 2.7 billion) and sales of AED976 million in the first half of 2023. Sodic has expanded its landbank by recently acquiring the Caesar backplot and the 440-acre residential project on the North Coast of Egypt.
