Al Baraka Bank signs an EGP 350 mn loan agreement with Dar Al-Mimar Contracting (DMC) to fund the expansion in Mountain View 1 in New Cairo, Invest-Gate reports.

The agreement comes in line with the Central Bank of Egypt’s directives for supporting the real estate sector.

Hazem Hegazy, Vice Chairman and CEO of Al Baraka Bank, states that the Mountain View 1 project supports the Egyptian real estate sector, adding that DMC is one of a kind contracting group.

For his part, Sherif Soliman, the CEO and Vice Chairman of DMC, notes that the funding will contribute to the implementation of the expansion of the Mountain View project in a prime location in New Cairo, adding that the project is executed in a large area with elegant design.