International law firm Baker McKenzie has provided counsel to Sixth of October Development and Investment Company (SODIC), a prominent diversified real estate developer in Egypt and a majority-owned subsidiary of the Abu Dhabi-based consortium comprising Aldar Properties and ADQ, on its strategic partnership with the luxury hospitality brand, Nobu, and in orchestrating the expansion of the Nobu brand within Egypt.
As part of this strategic collaboration, SODIC and Nobu have ambitious plans in the pipeline. Together, they intend to bring to life two opulent hotels, complemented by exclusive branded residences and the renowned Nobu restaurant. These ventures are set to grace two of SODIC’s distinguished developments, strategically located in West Cairo and on the North Coast.
“It was a pleasure to support SODIC on its partnership with iconic global brand Nobu as they look to jointly introduce Nobu’s five-star hotels, residences and restaurants to Egypt,” said Keri Watkins, Partner and Co-Head of the Real Estate and Hospitality Practice Group in the Middle East, commented. “This partnership marks a significant milestone in the Egyptian real estate and hospitality industry with the aim of bringing the highest standards of luxury to premier leisure and residential developments in Egypt.”
“We are delighted to have advised SODIC on this high profile cross-border transaction. This is a testament to the strength of our industry expertise and local market knowledge and our ability to collaborate seamlessly as we advise our real estate and hospitality clients in the region on their ambitious growth plans,” added Ghada El Ehwany, Partner and Head of the Corporate and Commercial Practice Group in Cairo.
Baker McKenzie’s cross-office team in Dubai and Cairo led on the legal negotiations between SODIC and Nobu, with our Dubai team acting as English law counsel and our Cairo team acting as Egyptian law counsel to SODIC.
The team was led by Keri Watkins (Partner, Real Estate and Hospitality, Dubai, pictured left) and Ghada El Ehwany (Partner, Corporate and Commercial, Cairo, pictured right), with support from Heba Samy (Senior Associate, Corporate, Cairo) and Tessa Crawford (Mid-Level Associate, Real Estate and Hospitality, Dubai)