Egypt and global economy brief
Paragon | Adeer targets EGP 7bn in financing for Smo Boulevard project
An RE brief based on a story published by Al Borsa on 11 November 2026.
Read the full story at the sourceThe story in brief
Baragon | Adair is seeking up to EGP 7 billion in bank financing for Smo Boulevard, whose investments total around EGP 70 billion, and is in talks with Egyptian and Gulf banks. The company also signed a partnership with Hilton Group to develop Canopy Cairo Smo Boulevard hotel and 122 branded residential units; the hotel is targeted to open in 2030.
Key numbers
- EGP 7 billion
- Bank financing sought
- EGP 70 billion
- Smo Boulevard investment
- 105 rooms
- Hotel capacity
- 122 residential units
- Canopy-branded homes
- EGP 5 billion
- Hotel and residential investment
- 2030
- Target hotel opening
Why it matters for brokers
The project adds branded residences and a 105-room hotel to a mixed-use destination. The company is seeking bank financing alongside other funding sources to develop it.
RE's reading of the story. It is not part of the original report and not investment advice.