Bank Audi-Egypt provides banking services, including the study of forming a banking alliance of several local banks, to finance New Plan for real estate development, Invest-Gate reports.

This coalition will provide co-funding in financing segments, and the company will direct the first tranche of the planned financing, which is to be spent on the existing projects in the New Administrative Capital (NAC), with a total expected investments of EGP 5 bn.

The company’s start-up strategy is based on the implementation and development of the four projects: Serrano, Eleven, Attica and Lamborghini in NAC and the Ecla project in Port Said.

The implementation rates of the projects have been reviewed, which in about a year and a half come up against EGP 3 bn, corresponding to 45% of the company’s total stock.

The company’s financial adviser, Abdul Rahim Mohamed Ahmed, explains that the investment and financing strategy will be reviewed with managers of Bank Audi.

The strategic alliance with the banks follows a view of reaching interest rates.