Baker McKenzie Cairo office, has acted as legal counsel to a consortium led by Banque Misr S.A.E. in connection with a EGP 1.3 billion syndicated long-term term loan facility extended to Middle East Real Estate and Tourism Investment Company, a subsidiary of Palm Hills Development Group. The loan will finance part of the investment cost for the development of a new Casa Cook-branded hotel located in Hacienda White 1 on Egypt’s North Coast.
The syndicate of banks participating in this deal includes Banque Misr S.A.E. and Abu Dhabi Commercial Bank (ADCB).
The transaction was successfully completed on 20 May 2025.
Commenting on the deal, Mostafa Lotayef, Counsel in the Banking and Projects practice at Baker McKenzie Cairo, said: "We are pleased to have supported Banque Misr and the lending consortium on this strategic transaction. The financing of a high-end hospitality project like Casa Cook reflects the continued investor confidence in Egypt’s tourism sector and underscores our team’s deep experience in structuring complex syndicated facilities in the region."
“Financing hotels in Sahel is particularly challenging, and we are proudly leading in this area,” he added.
The Baker McKenzie Cairo team was led by Mostafa Lotayef and included Lamyaa Gadelhak, Hania Meshref, Milad Fayez.
This transaction marks the second syndicated facility handled by Baker McKenzie's Cairo office in recent months, following the Firm's role as transaction counsel to Banque du Caire S.A.E. in securing a USD 75 million syndicated medium-term loan facility for Cheiron Egypt Delta Limited. Additionally, it adds to the list of transactions we have supported for our long-standing client Banque Misr, including our recent advisory on real estate financing deal for Landmark Developments.