Egypt Gets Almost USD 2.7 bn in Funding for Sinai Development in 2020

Egypt teamed up with several international financial institutions for financing several development projects in the Sinai Peninsula, at a combined value of almost USD 2.7 bn (EGP 42.4 bn), in 2020.

Egypt’s Remco Aims to Secure EGP 3.3 bn Co-Financing

EGX-listed Remco for Tourism Villages Construction has joined forces with its subsidiaries and sister companies to secure EGP 3.3 bn worth of long-term co-financing.

Renovation of Alexandria’s Tramline to Begin in Early 2021: NAT

The National Authority for Tunnels (NAT) will begin transforming Alexandria's El Raml tramway network – the oldest tram system in Africa and one of the oldest in the world – into a metro line worth EUR 360 mn (EG ...

PHD, NBE Partner for EGP 1 bn Facility Deal

Palm Hills Developments (PHD) has inked an EGP 1 bn facility agreement with the National Bank of Egypt (NBE), while still aiming to meet the EGP 1.5 bn net debt target by year-end.

TMG Holding’s Unit Partners With 2 Banks for East Cairo Projects

Talaat Moustafa Group (TMG) Holding's unit the Arab Company for Projects and Urban Development has partnered with the National Bank of Egypt (NBE) and Banque Misr to develop projects in east Cairo's Rehab and Madi ...

MNHD, CIB Seal EGP 1.1 bn Syndicated Loan Agreement

Egypt's Madinet Nasr for Housing and Development (MNHD) has agreed on an EGP 1.1 bn syndicated loan, aiming to proceed with plans to pump EGP 12 bn over the next three years into east Cairo's Sarai and Taj City pr ...

Egypt’s Mortgage Funding Down 84.2% in April: FRA

The Financial Regulatory Authority (FRA) has unveiled that Egypt’s mortgage finance activity dropped by 84.2% last April versus the year-ago figures.

Marakez Secures EGP 670 mn Loan for Mall of Katameya

Fawaz AlHokair Group’s mall development unit Marakez has signed an EGP 670 mn syndicated loan agreement with multiple local banks to finance the execution of phase II of east Cairo's Mall of Katameya.

EBRD Approves USD 12 mn Loan for Hyatt Regency Cairo West

The European Bank for Reconstruction and Development (EBRD) has approved the provision of a USD 12 mn (EGP 192 mn) long-term loan to bankroll the construction of the second Hyatt-branded hotel in Egypt, located in ...

NBE, IGI Agree on EGP 600 mn Facility for West Cairo’s Ashgar City

Egypt-based developer IGI Real Estate has agreed on a loan facility from the National Bank of Egypt (NBE) to finance the construction of its flagship project in 6th of October City, named "Ashgar City," with the f ...

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