Partner tender · open for registration
A Downtown Cairo landmark, ready for its next life as a hotel.
Partner tender · open for registration
A Downtown Cairo landmark, ready for its next life as a hotel.
Misr Abu Dhabi invites hotel operators, developers and investors to partner on the conversion and long-term operation of the Roshdy Building: 16 floors and the roof at 30 Roushdy Basha Street, Abdeen.16 floors and the roof at 30 Roushdy Basha Street, offered by MAD for conversion and long-term operation.
- Proposals close
- Tue 15 December 2026
- Questions close
- Sat 5 December 2026
- Time left
- 37 days
- Building
- 18 storeys
- Offered
- Floors 2–17 + roof
- Built-up area
- ≈ 8,353 m²
- Typical floor
- ≈ 543 m²
- Term
- 10–15 years
- Owner
- MAD, a Banque Misr company
01The building
A rare height in the historic core, with views across the city.
A fully vacant former office tower on the curved corner of Roushdy Basha and El Sherkat streets. Its height is unusual in Downtown: the upper floors look out over the city, and the roof is a natural signature space.
The offer is the sixteen floors from the second to the seventeenth, and the roof. The basement, ground floor and first floor stay with Banque Misr, whose branch keeps its own entrance.
| Configuration | Basement, ground, 16 typical floors, roof and upper roof |
|---|---|
| Typical floor plate | About 543 m², 28.6 × 20.2 m |
| Land plot | About 543 m², a corner plot on Roushdy Basha and El Sherkat streets |
| Clear height | 2.80 m to the underside of the slab |
| Condition | Vacant · stone façade · marble common areas |
| Concepts invited | Boutique or lifestyle hotel, serviced apartments, or a hybrid |
Areas as stated in the RFP; the basis is confirmed in the data room.
- Roof · a natural signature space
- Floors 2 to 17, offered · About 543 m² each, windows on the long façade and the curved corner
- First floor · Banque Misr branch, not offered
- Ground · Banque Misr, not offered
- Basement · Banque Misr, not offered
Inside the building today
A sound, vacant tower with marble common areas, open floors and a roof terrace.
The offered floors were fitted out as offices and are empty today. Working lifts, stairs and plant serve them, so they are ready to be converted rather than rebuilt.
Photographed for MAD on 6 October 2026. Unretouched.
The view from the roof
Panoramic views across Downtown Cairo, from the roof and the upper floors.
360° tour
Walk the building before you bid.
Enter the Roshdy Building as it stands today: the marble entrance, the open floors, the lift lobbies and the roof terrace with its view over Downtown Cairo. Look in any direction, move from room to room, and judge the space for yourself.
- 01The entrance and reception
- 02Typical floors, daylight on two sides
- 03Lift lobbies and corridors
- 04The roof terrace and the city view
Interactive 360°The tour shows the building as it is today, vacant and not fitted out. It is a visual aid, not a survey or a statement of what is offered.
02Location
Inside the Khedivial grid, minutes from Tahrir and the Nile.
- Opera Squareabout 500 m
- Abdeen Palaceabout 600 m
- Mohamed Naguib metroa short walk
- Tahrir Square and the Mogammaabout 1.1 km
- The Egyptian Museumabout 1.5 km
- The Nile Cornicheabout 1.8 km
03Why Downtown, why now
Cairo’s demand for hotel rooms is running ahead of supply, and Downtown is where the state is turning buildings into hotels.
- 19 million
- visitors to Egypt in 2025, up 21%
- Business Today Egypt, 4 Jan 2026
- 300,000
- hotel rooms targeted nationally by 2030
- Daily News Egypt, 5 May 2026
- 1,277
- new rooms left to open in Cairo in 2026
- JLL, 14 Aug 2026
The Downtown conversion programme
Every branded hotel near Roshdy is a large full-service property on the Nile or Tahrir. Inside the Khedivial streets there is no branded lifestyle or serviced-apartment product of this size, and an existing modern building can open ahead of the larger conversions.
| Project | From Roshdy | Rooms and brand | Status |
|---|---|---|---|
| Continental Hotel, Opera Square | 0.5 km | About 300 rooms, Taj | Operator signed Dec 2025 |
| The Mogamma, Tahrir Square | 1.1 km | 500 rooms, Autograph Collection | Under conversion |
| Former Interior Ministry, Lazoghly | about 1 km | 364 rooms, Marriott-managed | Due H1 2027 |
Continental Hotel, Opera Square
0.5 km · About 300 rooms, Taj
Operator signed Dec 2025
The Mogamma, Tahrir Square
1.1 km · 500 rooms, Autograph Collection
Under conversion
Former Interior Ministry, Lazoghly
about 1 km · 364 rooms, Marriott-managed
Due H1 2027
Sources: Arab Finance; Ahram Online; Daily News Egypt.
04How partners can structure an offer
MAD keeps the building. Partners choose the structure that makes their case.
Revenue-share co-development
The partner funds everything; the building is MAD’s contribution.
MAD receives a share of revenue or cash flow.
Long-term lease, usufruct or concession
The partner funds and delivers the full conversion and runs the hotel for the agreed term.
MAD receives fixed, stepped or indexed rent.
Hybrid
A guaranteed minimum payment, backed by a bank guarantee or escrow, plus a share of revenue.
MAD receives the higher of the two.
Joint venture
Including a joint-venture company, with one counterparty carrying every member’s guarantees.
MAD receives as agreed.
Another explained structure
Any fully explained structure other than a sale. A bidder may offer more than one.
MAD receives as proposed.
Every offer is compared on its present value to MAD, by a method and parameters published by addendum before any commercial offer is opened.
05How the tender works
Entirely online, in English or Arabic, from anywhere.
- From 11 November · NowRegisterCompany details and legal documents, in four screens you can save and resume.
- After review · To comeApproval by MADDocuments are checked against public registers. The decision is MAD’s.
- Once approved · To comeSign the NDAOnline by your authorised representative, then an original signed in ink.
- Until 5 December · To comeData room and questionsDrawings, title documents and surveys. Questions go through the platform.
- 15 December · To comeSubmit two envelopesFile A technical and File B commercial, sealed. A receipt for every file.
- From January 2027 · To comeEvaluationThe technical proposals are scored first; commercial offers open only for those that pass. MAD’s Board decides.
06Governance
MAD keeps every decision. The rules are published before any offer is opened.
- MAD
- Approves, publishes and decides
- Belmazad
- Runs the process and the platform for MAD
- GAT
- Technical and financial review
The same information for everyone
Questions go through the platform. MAD approves each answer, and it reaches every participant at the same time, without naming who asked.
Sealed proposals
Technical proposals open at the deadline. Commercial offers stay encrypted until a proposal passes the technical threshold, including a minimum score for its hotel operator.
A record of every step
Each registration, signature, download, question and decision is logged with who made it and when.
Tender details
The Roshdy Building tender
30 Roushdy Basha Street, corner of El Sherkat Street, Abdeen, Downtown Cairo
The curved stone corner of the Roshdy Building, from street level
1 / 30All photographs taken for MAD on 6 October 2026, unretouched.
Overview
The Roshdy Building is an 18-storey former office tower on a curved corner at 30 Roushdy Basha Street, Abdeen, in the heart of Downtown Cairo. MAD — the real estate investment and asset management platform of Banque Misr — invites qualified developers, investors and hospitality operators to renovate, reposition and operate its vacant upper floors (floors 2 to 17 and the roof) as a boutique hotel, serviced apartments or a hybrid hospitality concept. MAD keeps its ownership rights and contributes the premises, or agreed rights to use them, in kind, and funds nothing; the selected partner provides all the capital and leads delivery and operation. MAD invites proposals under revenue-share co-development, a lease, usufruct or concession, a hybrid with a minimum guaranteed payment, a corporate joint venture, or another fully explained structure — there is no outright sale — and a bidder may submit a Base Offer and Alternative Offers, each ranked on its own.
Why it stands out
- Walking distance of Tahrir Square, Abdeen Palace, the Egyptian Museum, the Nile Corniche and Downtown's cultural and commercial landmarks.
- Aligned with the national programme converting Downtown buildings into hotels — the Mogamma is becoming a 500-key Marriott Autograph Collection hotel and the Continental at Opera Square a 300-key hotel with Taj (IHCL) as operator; the conversion may qualify for the Government's hotel-conversion incentives.
- Egypt received a record 19 million visitors in 2025 (+21%), about nine million more in the first half of 2026, and targets about 20 million for 2026.
- A well-built existing tower: renovation rather than new construction, so it can open ahead of the larger heritage conversions.
- Downtown Cairo is under-supplied in branded, modern hospitality; the existing stock is mostly unbranded economy and midscale.
- An open concept: a boutique hotel, serviced apartments, or a hybrid — bidders propose what maximises the building's value.
Key facts
- Offered premises
- Floors 2 to 17 (16 floors) and the roof, with an undivided share in the land and the common parts
- Built-up area
- 8,353 m² of offered premises; typical floor about 543 m²
- Land plot
- About 543 m², on the corner of Roushdy Basha and El Sherkat streets
- Ownership
- Misr Abu Dhabi for Real Estate Investments (MAD), a Banque Misr company
- Structures
- Revenue-share co-development, lease / usufruct / concession, hybrid, corporate joint venture, or another explained structure — no outright sale
- Term
- 10–15 years, including renovation
- Evaluation
- Technical 35% · commercial 65%; commercial proposals open only for bids reaching 60% technical and 50% on operator strategy
- Coordinates
- 30.0474° N · 31.2459° E
Please note: The basement, ground floor and first floor belong to Banque Misr, whose Mohamed Farid branch stays in operation with its own entrance; they are not part of this opportunity. Banque Misr keeps rights that bind the selected partner, including shared use of the stairs and the service lift, a 50 m² roof area for its equipment, CCTV and signage on its façades, and its connections to the building's systems (RFP §2.2).
The building today, area by area
What a partner takes over, as photographed. Full condition surveys are in the data room.
Arrival and lobby
4 photosMarble entrance stair, reception desk and a marble-clad lift lobby, in good order.
Typical floors 2–17
7 photosOpen office floors of about 543 m², vacant, with timber panelling, glazed partitions and suspended ceilings to be stripped for conversion.
Roof and views
3 photosA usable roof terrace with a timber pergola, and open views across Downtown.
Lifts and cores
2 photosLifts and stairs serve every floor; lift lobbies are marble-clad.
Corridors and washrooms
6 photosStone-clad corridors and tiled washrooms on each floor; finishes are dated and expected to be replaced.
Building systems
7 photosSwitchgear, standby generators, pumps and roof-top VRF condensers are in place; their condition is reported in the technical surveys.
Tender timeline
- RFP release — platform opens for registration and applicationsWed 11 Nov 2026
- Deadline for clarification requestsSat 5 Dec 2026
- Final MAD replies and last addendumThu 10 Dec 2026
- Stage 1 submission deadlineTue 15 Dec 2026
- Technical evaluation and opening of the commercial proposals of passing biddersTue 5 Jan 2027
- Shortlisting notification and MAD written comments (target January 2027)To be confirmed
- Revised offers — up to two rounds, the last being the BAFO (target January–February 2027)To be confirmed
- Evaluation of BAFOs (BAFO deadline + 2 weeks)To be confirmed
- MAD Board approval of the preferred bidder (target March 2027)To be confirmed
- Notification of the preferred bidder and negotiation of the Definitive Agreements (Board approval + 6 weeks)To be confirmed
- Target signing of the Definitive AgreementsTo be confirmed
What opens after the NDA
Approved companies sign the NDA online and then see the full data room. Every file opened is logged.
RFP and addenda
Request for proposal · Addenda · Clarifications register
Opens after the NDA
Title and legal
Title deed and ownership evidence · Zoning / permitted-use documentation and change-of-use status · Real estate tax status
Opens after the NDA
Drawings and areas
As-built architectural drawings · Floor-by-floor area breakdown (gross / net)
Opens after the NDA
Technical surveys
Structural assessment report · Utility capacity records (power, water, sewer, telecom) · Elevator technical records
Opens after the NDA
Photos and templates
Site and building photographs · Form of Non-Disclosure Agreement · Templates
Opens after the NDA
How this tender works — every step
From registration to signing: what your company does and submits at each stage, and what happens next. The confidential documents themselves are released after your registration is approved and the NDA is signed.
1. Register your company
DeveloperFour short screens, saved as you go. You only register once, for any MAD tender.
- Account and email confirmation (a 6-digit code)
- Legal identity — fields adapt to your country (Egypt, UAE, Saudi Arabia, Gulf, other)
- Authorised representative and contact person
- Ownership, beneficial owners and disclosures
- Up to five relevant projects
- Legal documents: commercial register, tax card or trade licence, board resolution, representative's ID, company profile, ownership diagram
Your registration goes to review.
2. Review and approval
Belmazad · MADYour documents are read and cross-checked against what you entered, and screened against public sources. Belmazad recommends; MAD decides.
- AI-assisted vetting report, checked by the tender team
- Belmazad's recommendation
- MAD's decision: approved, more information needed, or not approved
You are notified by email and on the portal.
3. Sign the project NDA
Authorised representativeThe person authorised to sign for your company signs the Non-Disclosure Agreement online (RFP §1.6).
- Typed name and title of the signatory
- A signed copy to print or keep
The RFP, the data room and clarifications open to your company.
4. RFP and data room
DeveloperEverything MAD makes available for due diligence (RFP §3.5, Annex B).
- The full Request for Proposal
- Title deed, as-built drawings, structural report, area breakdown
- Zoning, utilities, elevators, real-estate tax, photographs, NDA form
New documents are announced to every bidder.
5. Clarifications and addenda
Developer · Belmazad · MADAsk the tender team in writing. Answers that matter to everyone are published to all bidders without naming who asked (RFP §5.6.2).
- Your questions and their answers
- The published clarifications register
- Formal addenda, which you acknowledge
Every addendum must be acknowledged before you submit.
6. Stage 1 — File A, technical proposal
DeveloperSubmitted online, in the order of RFP Section 6, with the signed Annex A declarations.
- Executive summary (§6.1)
- Legal and ownership structure, certified documents (§6.2)
- Financial standing: 3 years of audited statements, material debt, bank letters, and consent to due-diligence checks including I-Score (§6.3)
- Relevant experience (§6.4)
- Team, CVs and local capacity in Egypt (§6.5)
- Concept, unit mix, floor-by-floor plan, renovation approach (§6.6)
- Operator strategy and target operators (§6.7)
- Annex A declarations: authorisation, conflict of interest, anti-collusion and sanctions, RFP terms
- The signed File A as one PDF
Continue to File B.
7. Stage 1 — File B, commercial proposal (sealed)
DeveloperSubmitted online and encrypted — nobody can open it until your technical proposal has been scored (RFP §5.3, §7). You may offer more than one structure as separate Alternative Offers (§1.3).
- Base Offer under one structure: revenue-share co-development, lease/usufruct/concession, hybrid, corporate joint venture, or another explained structure — no outright sale (§1.3, §7.1)
- The Base Offer's terms: waterfall, security, minimum guarantee, key money and governance (§7.1); each Alternative Offer is scored and ranked on its own (§8.1)
- Building valuation (§7.2) and renovation budget with cost per key (§7.3)
- Financial model — unlocked Excel with the 7 required tabs — and a risk and security schedule for each payment to MAD (§7.4)
- Development timeline (§7.5)
- 100% funding: proof of funds, sources and uses, equity commitment letters, financing conditions (§7.6)
- Returns and value to MAD (§7.7); renewal, exit and early-termination compensation (§4.8)
- Optional Alternative Offers, each complete with its own model; an Annex C for every offer
- The signed File B as one PDF
Submit, receive a receipt, and deliver the paper copies to MAD.
8. Evaluation and selection
MAD committee · Belmazad · GATThe committee scores File A first. Only proposals that pass the technical gate have File B opened (RFP §8).
- Compliance gate: signed, Annex A, separate files, a complete Base Offer, no MAD funding, proof of funds, common-basis NPV schedule
- Technical score — at least 60%, and 50% on operator strategy
- File B opened and scored: 35% technical, 65% commercial
- AI-assisted evaluation and Board report, signed off by the committee
- Stage 2 comments, revised offers, selection and signing
MAD selects the preferred partner.
Register your company for prequalification
Four short screens. Save and come back at any time. Registration is free.