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.
Banque Misr has entered into a medium-term loan agreement with MARAKEZ, providing a credit facility worth up to EGP 3bn to aid the developer's activities and boost operational efficiency. The deal was inked by Hisham Okasha, CEO of Banque Misr, and Ahmed Dasha Badrawi, Executive Vice Chairperson of MARAKEZ, attended by Amr Damerdash, Head of Corporate Credit and Syndicated Loans at Banque Misr, Osama Ezzo, CFO of MARAKEZ, and other senior figures.
The transaction was managed by Baker McKenzie, a top global law firm. Repayment will draw on steady cash flows from commercial leases at Mall of Arabia, Egypt's premier retail hub. Situated in 6th of October City, Giza, the mall covers about 148 feddans, features 420 retail units, and offers 142,000 square meters of gross leasable area.
Hisham Okasha remarked: "Banque Misr places strong emphasis on supporting real estate development companies and remains committed to enabling developers in ways that stimulate Egypt’s property market and enhance its investment appeal." He noted that this fits Egypt's urban development strategy under Vision 2030, calling the sector a vital economic pillar due to its ties to support industries, job creation, and sustainable growth. He also stressed the bank's dedication to innovative financing that meets global standards and promotes long-term value.
Ahmed Dasha Badrawi stated: "This facility reflects the continued confidence of banks and financial institutions in the strength of MARAKEZ’s portfolio and the quality of our developments. It reinforces our commitment to advancing our projects while delivering best-in-class experiences and services for our customers and partners."
MARAKEZ ranks among Egypt's top mixed-use developers, boasting some of the market's strongest recurring revenues. Centered on Mall of Arabia in West Cairo, its assets include AEON, the inaugural residential tower in 6th of October City and new urban areas, plus District Five, East Cairo's key mixed-use site. The lineup also features Mall of Tanta, opened in 2019; Town Center, launched in 2020; and Mall of Mansoura, set to debut soon. With diverse projects, MARAKEZ draws an expanding clientele and grows its national presence through innovative strategies and proven delivery of quality destinations.
In line with its banking goals, Banque Misr finances varied real estate ventures—commercial, residential, and mixed-use—prioritizing those fostering sustainable urban expansion in new cities to ease pressure on established ones.