In line with its continued role in supporting major national projects and advancing economic growth, Banque Misr has signed a medium-term loan agreement with MARAKEZ, one of Egypt’s leading mixed-use real estate developers, providing a credit facility of up to EGP 3 billion to support the company’s operations and enhance overall operational efficiency.
The agreement was signed by Mr. Hisham Okasha, CEO of Banque Misr, and Mr. Ahmed Dasha Badrawi, Executive Vice Chairman of MARAKEZ, in the presence of Mr. Amr Damerdash, Head of Corporate Credit and Syndicated Loans at Banque Misr, Mr. Osama Ezzo, Chief Financial Officer of MARAKEZ, and senior representatives from both organizations.
The transaction was overseen by Baker & McKenzie, one of the world’s leading international law firms. Repayment of the facility will be supported by the stable cash flows generated from commercial lease revenues at Mall of Arabia, one of Egypt’s largest and most prominent retail destinations. Spanning approximately 148 feddans in 6th of October City, Giza Governorate, the mall features 420 retail units and a total gross leasable area of approximately 142,000 square meters.
Commenting on the agreement, Mr. Hisham Okasha, CEO of Banque Misr, noted that the bank places strong emphasis on supporting real estate development companies and remains committed to enabling developers in ways that stimulate Egypt’s property market and strengthen its investment appeal. He added that this approach aligns with the country’s comprehensive urban development agenda under Egypt Vision 2030. Okasha further highlighted the real estate sector as a key pillar of the national economy, given its close linkages to numerous supporting industries and its direct contribution to job creation and sustainable economic growth.
Mr. Okasha also emphasized Banque Misr’s commitment to offering innovative and diversified financing solutions that reflect international banking best practices, support the country’s sustainable development goals, and empower businesses to scale, grow, and create long-term value for the economy.
For his part, Mr. Ahmed Dasha Badrawi, Executive Vice Chairman of MARAKEZ, said: “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 is one of Egypt’s largest mixed-use developers, with a portfolio distinguished by some of the highest recurring revenue streams in the market. Anchored by Mall of Arabia in West Cairo, the company’s developments include AEON, the first residential tower project in 6th of October City and new urban communities, as well as District Five, East Cairo’s leading mixed-use destination. The portfolio also features Mall of Tanta, opened in 2019, Town Center, launched in 2020, and Mall of Mansoura, scheduled to open soon.
Through its diverse developments, MARAKEZ continues to attract a growing customer base and expand its footprint across Egypt, supported by an innovative real estate approach and a strong track record in delivering high-quality mixed-use destinations.
As part of its comprehensive banking strategy, Banque Misr continues to finance real estate projects of varying scales and asset classes, including commercial, residential, and mixed-use developments, with particular focus on initiatives that promote sustainable urban growth in new cities and help ease congestion in existing urban centers.
The bank also remains committed to delivering advanced banking services that enhance customer convenience and experience, while maintaining service excellence and long-term performance. These efforts reflect Banque Misr’s core values and its broader mission to support sustainable development and economic prosperity across Egypt.
