EFG Hermes Corp-Solutions announces that it has signed a sale and leaseback agreement amounting to EGP 600 mn with LMD to finance its all-in-one leisure and business complex 3’Sixty, Invest-Gate reports.

The financing is split into two tranches equally, the first of which was completed last January, while the second transaction was concluded in early March.

“We are extremely delighted to collaborate with a world-class real estate developer such as LMD and to provide it with the financing needed to complete its remarkable project- 3’Sixty,” Talal Elayat, CEO of EFG Hermes Corp-Solutions, says.

3’Sixty is a multi-use project located on the Mohamed Bin Zayed Axis in New Cairo’s Golden Square, minutes away from the American University in Cairo and accessible from various areas across New Cairo. The commercial development’s service offerings encompass offices, clinics, and retail spaces with a total investment of EGP 4 bn, spanning a total built-up area of 153,642 sqm.

Amr Sultan, CEO of LMD, comments: “To truly make 3’Sixty a business and leisure park, we also partnered with the globally renowned collaborative design firm, Gensler, for the park’s master plan, as well as JLL as the project’s Retail Consultant and Tenant Mix to ensure the best quality like we always sought out at LMD. We will continue partnering with the best.”