PROJECT

Projects

Summary of Investment Information

Project Number

52701

Company Name

Pickalbatros Holding for Financial Investments

Date SPI Disclosed

May 28, 2026

Country

Morocco

Region

Africa

Projected Board Date

Jun 29, 2026

Environmental Category

B - Limited

Status

Pending Disbursement

Last Updated Date

Jul 5, 2026

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Previous Events

Approved : Jun 26, 2026
Signed : Jul 1, 2026

Sector

Resort Hotel (Including Lodges)

Project Description

The proposed investment is an A Loan of up to US$165 million (partially de-risked through an MCPP credit insurance cover) alongside US$135 million mobilized from B/parallel lenders to four Moroccan subsidiaries of the Pickalbatros Group (the “Group”), one of Africa’s largest and most diversified hospitality platforms with 39 hotels and ~16,000 keys across Egypt and Morocco. The Proposed investment will finance (i) the acquisition of the three assets, (ii) the refurbishment and upgrade of both newly acquired and selected existing hotels, and (iii) refinancing of existing debt, with implementation over 2026–2028.

The Project includes sustainability-linked features tied to environmental performance improvements, with refurbishment expected to deliver energy and water efficiency gains, contributing to IFC’s climate objectives.                                                  

                                                

Associated Advisory Engagement

 The proposed investment is enabled by IFC Upstream advisory support, which is assisting the Group in strengthening sustainability practices and establishing an appropriate holding structure.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation