Mint Real Estate Asset Management and Suez Canal Bank have announced the establishment of Anchors Real Estate Investment and Development, a pioneering company in real estate development and investment, Invest-Gate reports.

This strategic partnership aims to harness the complementary strengths of both organizations to foster growth and innovation in Egypt’s real estate sector.

Under the agreement, Mint Real Estate Asset Management holds a 60% ownership stake, while Suez Canal Bank retains 40%. Together, they aim to deliver integrated real estate solutions, leveraging Mint’s industry expertise and Suez Canal Bank’s robust financial capabilities to seize emerging opportunities and contribute to the sector’s advancement.

“This collaboration positions Mint as a comprehensive real estate solutions provider, offering a full suite of services ranging from acquisition and development to asset management and financing,” stated Alia El Nagdy, CEO of Mint and Anchors.

She added, “Anchors is uniquely poised to provide timely financial solutions that drive ambitious real estate ventures, addressing the market’s growing demand for alternative financing options.” As Mint’s dedicated investment arm, Anchors will streamline real estate processes, enabling clients to efficiently achieve their goals while focusing on high-potential projects with strong return prospects.

For Suez Canal Bank, the creation of Anchors signifies a major step in diversifying its non-banking financial services and broadening its revenue base.

Akif El-Maghraby, CEO and Managing Director of Suez Canal Bank, emphasized the strategic significance of this venture, stating, “This partnership aligns with our vision to expand into innovative, non-banking financial solutions while delivering greater value to our clients. Anchors will play a pivotal role in driving real estate growth and enhancing our ability to support transformative projects.”

Anchors has already demonstrated its potential by securing a landmark deal worth EGP 500 mn with one of Egypt’s leading real estate developers.

Speaking on this achievement, El Nagdy remarked, “The EGP 500 mn deal reflects Anchors’ ability to address market gaps with innovative solutions, setting the stage for sustained growth.”

El-Maghraby added, “This investment underscores our confidence in the Egyptian real estate sector and our commitment to enabling its long-term expansion.”