Hadayeiq-led alliance seeks $74M loan for Giza Zoo, Orman Park development
Updated 2/11/2025 11:00:00 AM
Arab Finance: A coalition led by the Giza Zoo developer Hadayeiq is seeking to borrow EGP 2.3 billion ($74 million) from local banks, led by the National Bank of Egypt (NBE), to continue development works at the Zoo and the botanical Orman Park, two unnamed sources in the know told Asharq Business.
The Egyptian government began a major redevelopment of the two parks in September 2023.
The project is a partnership between the Ministry of Agriculture and Land Reclamation, the General Veterinary Services Authority, and the National Authority for Military Production, with private sector involvement.
The African Association of Zoos and Aquaria (PAAZAB) and the World Association of Zoos and Aquariums (WAZA) are supervising the project, which will link the parks through an underground tunnel.
One of the sources said the joint loan will help cover the project’s investment cost, which is estimated at nearly EGP 4 billion.
The plan is to turn the two parks into one of the world’s largest zoological and botanical gardens, complete with a hotel, commercial, and entertainment facilities.
In December 2023, Hadayeiq secured EGP 832 million in financing from NBE and the China Development Bank to contribute to the project.
The other source added that Hadayeiq, which is owned by Capital Blue, has contracted international consulting firms for the project, including Hill International, Hassan Allam Construction, and Beltone Financial Holding as the project’s financial advisor.
Once completed, the alliance will manage the parks under a 25-year usufruct agreement.
The Ministry of Agriculture will retain ownership, while the General Veterinary Services Authority will oversee technical supervision. Rent will be paid annually with periodic increases over the contract period.
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