Baker McKenzie advises SODIC on partnership with Nobu
The purpose is to establish five-star hotels, residences, and restaurants in Egypt
International law firm Baker McKenzie has counseled Sixth of October Development and Investment Company (SODIC), on its strategic partnership with the luxury hospitality brand, Nobu, and in orchestrating the expansion of the Nobu brand within Egypt.
SODIC is a prominent diversified real estate developer in Egypt and a majority-owned subsidiary of the Abu Dhabi-based consortium comprising Aldar Properties and ADQ.
As part of the collaboration, SODIC and Nobu intend to establish two opulent hotels, complemented by exclusive branded residences and the renowned Nobu restaurant. The ventures are set to grace two of SODIC’s distinguished developments located in West Cairo and the North Coast.
Keri Watkins, the Partner and Co-Head of the Real Estate and Hospitality Practice group of Baker McKenzie in the Middle East, commented, “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 in Egypt. The 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.”
Ghada El Ehwany, the Partner and Head of the Corporate and Commercial Practice Group of Baker McKenzie in Cairo added, “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 ability to collaborate seamlessly as we advise our real estate and hospitality clients in the region on their ambitious growth plans.”
Baker McKenzie’s cross-office team in Dubai and Cairo led on the legal negotiations between SODIC and Nobu. Its Dubai team acted as English law counsel and the Cairo team was the Egyptian law counsel to SODIC.
The team was led by Keri Watkins and Ghada El Ehwany. They were supported by Heba Samy (senior associate, corporate, Cairo) and Tessa Crawford (mid-level associate, real estate and hospitality, Dubai).