Marakez secures EGP 3bn financing from KFH-Egypt for District 5 expansion

Marakez, one of Egypt's leading mixed-use real estate developers, has secured a EGP 3bn project finance facility from Kuwait Finance House Bank – Egypt to expand its commercial and administrative offerings at District 5, highlighting strong demand for premium office spaces.

Marakez, a prominent Egyptian developer of mixed-use properties, signed a EGP 3bn financing agreement with Kuwait Finance House Bank – Egypt during a ceremony attended by top executives from both sides, including Dasha Badrawi, executive vice chairman of Marakez; Osama Ezzo, the company's chief financial officer; Amr Abdel Wahab, head of corporate banking at KFH-Egypt; and Ihab El-Shafei, general manager of corporate banking.

The funds will support the extension of the fully leased Mindhaus Campus, adding approximately 17,000 square metres of gross leasable office area. This expansion addresses growing demand from firms for integrated, high-specification workspaces in District 5, located in East Cairo and offering direct access to retail outlets, banking services, dining options, and lifestyle amenities.

Marakez noted that the existing Mindhaus Campus features an integrated ecosystem and premium facilities, leading to a waiting list for office spaces. The project reinforces District 5's role as a key commercial and business hub in East Cairo, aligning with KFH-Egypt's focus on financing quality developments that promote sustainable commercial growth.

Related Articles

Banque Misr has signed a medium-term loan agreement with MARAKEZ, one of Egypt's leading mixed-use real estate developers, offering a credit facility of up to EGP 3bn. The deal aims to bolster the company's operations and improve overall efficiency. It was signed in the presence of senior officials from both sides.

Reported by AI

The National Bank of Egypt has arranged a syndicated financing facility worth EGP 1.42 billion for Al Qamzi Developments to cover part of the investment costs for the first and second phases of the SEAZEN project on Egypt's North Coast. NBE serves as facility agent, lead arranger, documentation bank, and bookrunner with a EGP 920 million participation, while Bank Al Baraka Egypt joins as an arranger contributing EGP 500 million.

Egypt's Finance Minister Ahmed Kouchouk stated that the country is opening its doors to increased investment inflows, supported by strong competitive advantages and an enabling, attractive business environment. Speaking at a meeting of the Council of the Union of Arab Chambers of Commerce, Industry and Agriculture, Kouchouk explained that the government's tax and customs facilitation initiatives are designed to build trust and foster partnership with the business community, while delivering rapid and tangible results on the ground.

Reported by AI

Senior executives from Egypt’s leading real estate developers say the sector is entering a new phase of structural correction, stronger fundamentals, and growing global relevance, driven by economic stabilization, rising foreign investment, tourism expansion, and evolving urban development models. Ayman Amer, General Manager of SODIC, said Egypt is following a trajectory similar to India’s, positioning itself to become a major global hub within the next 10 to 15 years. The speakers emphasized tourism and digital innovation’s role in bolstering the sector.

 

 

 

This website uses cookies

We use cookies for analytics to improve our site. Read our privacy policy for more information.
Decline