Tatweer Misr, one of Egypt’s leading real estate developers, has secured EGP 3 billion in financing from Al Taamir Leasing and Factoring Company – Al Oula, split evenly between its Fouka Bay and D-Bay projects on the North Coast. The facility is part of the company’s strategy to diversify its funding base and deploy capital efficiently, supporting the acceleration of construction across both projects and their targeted completion within two years, Invest-Gate reports.
Construction Progress at Fouka Bay and D-Bay
Construction at Fouka Bay is now approximately 80% complete, with around 20% of the work remaining, while D-Bay has reached approximately 65% completion, with around 35% remaining. The financing will support the completion of the outstanding works and accelerate execution across both projects, in line with Tatweer Misr’s targeted two-year completion timeline.
Strong Track Record in Execution and Delivery
Tatweer Misr’s plans to accelerate completion across its developments are underpinned by a strong track record of execution and timely delivery. The company successfully delivered D-Bay within two years of its launch, with several residential units handed over ahead of schedule. This track record demonstrates Tatweer Misr’s ability to sustain construction momentum and deliver its development plans in line with, and in some cases ahead of, established timelines.
Flexible and Diversified Funding Structure
The financing also reflects Tatweer Misr’s approach to maintaining a flexible and diversified funding structure that can respond to the requirements of its developments at different stages of execution. By directing financial resources toward ongoing construction, the company continues to support execution continuity, accelerate delivery and strengthen its overall delivery capabilities across its development portfolio.
Dr. Ahmed Shalaby on Sustainable Growth
Dr. Ahmed Shalaby, President & CEO of Tatweer Misr, said: “At Tatweer Misr, we believe that sustainable growth is measured not only by the scale of the developments we create, but by our ability to maintain strong construction momentum and translate our vision into fully integrated communities. This drives our approach to building a flexible and diversified financing framework that responds to the needs of our developments at different stages, enabling us to deploy resources efficiently toward construction and maintain strong execution momentum. This financing represents a natural extension of this approach, supporting the completion of our ongoing developments against clear execution plans, while enhancing the value we create for our customers and partners. We remain committed to developing integrated communities that create sustainable long-term value and deliver on the aspirations of our clients.”
Haitham Serag on Leasing Finance
Haitham Serag, CEO of Al Taamir Leasing & Factoring (Aloula), said: “We believe in the pivotal role of leasing finance in supporting companies’ growth and expansion plans, accelerating project execution and contributing to sustainable economic value creation. As part of this approach, we are committed to directing our financing solutions toward sectors with a direct impact on the Egyptian economy, particularly real estate, tourism and hospitality. The financing of Fouka Bay and D-Bay reflects our commitment to supporting investment and development across Egypt’s North Coast, which has emerged as one of the country’s most important tourism and investment destinations, with significant growth potential across the real estate, tourism and hospitality sectors.”
Continued Partnership with Tatweer Misr
Serag added, “We also value our partnership with Tatweer Misr, which has extended for more than three years, and consider the company a true partner in success. We look forward to continuing to support its growth plans and future developments through flexible financing solutions that respond to its evolving needs, accelerate execution and enable the company to deliver on its development objectives.”
Supporting Construction and Delivery Plans
The financing will further support Tatweer Misr’s plans to accelerate construction activity and increase delivery rates in the coming period, enhancing the readiness of both developments and supporting the company’s execution plans and its objective of completing projects in line with established timelines.