MBH advises IGI Holding on Hotel101 joint venture

Matouk Bassiouny & Hennawy (MBH) advised IGI Holding on the signing of definitive agreements with Hotel101 Global, a subsidiary of Hotel101 Global Holdings (NASDAQ: HBNB). The agreements establish a nationwide joint venture to develop and operate Hotel101 properties across Egypt.

First project: Hotel101-Cairo West

The partnership will start with Hotel101-Cairo West, an approximately 750-room hotel in 6th of October City, near the Giza Pyramids and the Grand Egyptian Museum. The projected total project value is approximately EGP 5.465 billion (US$102.09 million). By room count, the hotel is expected to rank among the three largest in Cairo. Completion is targeted for 2029, subject to customary approvals.

The MBH team

The MBH team was led by Tamer El Hennawy (pictured), partner and co-head of capital markets & corporate M&A. He was supported by Omar Elshabassy, senior associate, and by associates Ahmed Nour and Mostafa Ali.