Ora Developers Egypt and the National Bank of Egypt (NBE) have signed a long-term financing agreement worth EGP 3bn to fund part of the investment cost of the “Solana West” development, one of Ora’s flagship projects in West Cairo. The collaboration underscores the ongoing partnership between Egypt’s banking sector and major real estate developers to support urban expansion and the creation of modern, integrated communities in line with the state’s development strategy, Invest-Gate reports.
Eng. Naguib Sawiris, Chairman of Ora Developers Group, expressed his pride in the partnership with NBE, saying: “This collaboration highlights the vital importance of cooperation between the banking and real estate sectors to ensure the continuity of high-quality urban development. We are proud of the mutual trust between national financial institutions and Ora Developers as a reliable partner. Financing Solana West represents a strong step not only toward achieving our vision of delivering integrated communities but also toward supporting the state’s urban expansion plans in West Cairo and driving positive outcomes in the real estate market.”
Following the signing, Mohamed El Etreby, CEO of the National Bank of Egypt, stated that the financing aims to accelerate construction works for Solana West, contributing to the state’s efforts to promote urban expansion, particularly in new cities and regions with strong infrastructure and essential services. He added that the initiative reflects NBE’s commitment to providing necessary funding for vital projects, including private sector real estate developments, which in turn bolster Egypt’s economic growth and create more job opportunities, especially for youth.
Located in New Zayed, Solana West spans 316 feddans and embodies Ora’s “Life in Contrasts” concept, redefining contemporary living in West Cairo. The project features a variety of modern-designed residential units, a Sports Arena, Clubhouse, Spa, Business Center, and vibrant green spaces complemented by restaurants, cafés, and entertainment facilities. Strategically positioned minutes away from Dahshour Link, the 26th of July Corridor, and Juhayna Square, Solana West offers residents a dynamic, fully integrated lifestyle in one of Cairo’s most promising areas.