By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
    September 22, 2023
    Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    September 21, 2023
    ABB allocates €13bn for green transformation by 2030
    ABB allocates €13bn for green transformation by 2030
    September 21, 2023
    DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
    DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
    September 21, 2023
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    September 21, 2023
  • Politics
    PoliticsShow More
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    September 22, 2023
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    September 20, 2023
    Children dying in Sudan amid healthcare system collapse
    Children dying in Sudan amid healthcare system collapse
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
Share
Notification
Latest News
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
Business

Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties

Fatma Salah
Last updated: 2023/06/04 at 1:45 AM
By Fatma Salah 3 Min Read
Share
Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
SHARE

Beltone Leasing, a subsidiary of Beltone Financial Holding, announced Saturday that it has signed a EGP 500m sale-and-leaseback agreement with Hassan Allam Properties (HAP) to finance assets for two subsidiaries: International Company for Tourism and Development and Katameya for Development, Tourism, and Real Estate.

Under the terms of the agreement, the EGP 500m financing will be used to finance commercial and hospitality assets and will be equally split between the subsidiaries. The agreement has a seven-year lease tenor, unlocking an attractive and alternative capital raising solution that enables HAP to deliver on its growth plans. 

Amir Ghannam, CEO of Beltone Leasing, commented: “We are proud to collaborate with Hassan Allam Properties, one of Egypt’s largest real estate groups, and to provide it with a tailored financing solution to facilitate its ambitious expansion plans. The agreement showcases our ability to provide comprehensive, tailored financial solutions that meet the growing needs of our clients across a diverse range of critical sectors including real estate and hospitality. This strategic partnership marks the beginning of a series of valuable collaborations and deals for Beltone Leasing. We remain committed to delivering exceptional service and customized financing solutions to support our clients’ growth objectives.”

Mohamed Allam, CEO of Hassan Allam Properties, commented: “We are delighted to partner with Beltone Leasing on a seven-year sale-and-leaseback agreement valued at EGP 500 million. This agreement aligns with our robust growth plans and strategic vision at Hassan Allam Properties Group, which in part entail expanding our landbank and geographic reach. Furthermore, it attests to our nationwide presence and accentuates our expansion aspirations across a diverse range of real estate asset classes and mixed-use developments, extending beyond residential properties to encompass commercial, retail and hospitality ventures. We highly value our partnership with Beltone Leasing, recognizing their extensive expertise in the field and are confident that it will yield promising results.”

Established in 1998, HAP is one of Egypt’s leading boutique real estate developers. The company holds a c.6.5 million sqm diversified landbank of developed and underdeveloped land plots for residential and mixed-use developments as well as holiday resorts in prime locations throughout Egypt. The agreement with Beltone Leasing is set to expedite the pace of construction and delivery on a number of HAP projects.

The deal is part of a series of successful partnerships Beltone Leasing has lined up in the months to come as it works to fulfill Beltone Financial Holding’s growth strategy to widen its non-bank financial institution platform. Today, Beltone Leasing has a solid footing in the Egyptian leasing space, with financial leasing products and services and diverse clients operating in a range of key industries.

You Might Also Like

Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity

Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company

ABB allocates €13bn for green transformation by 2030

DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups

Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo

TAGGED: Beltone, Hassan Allam Properties
Share this Article
Facebook Twitter Email Print
Previous Article EFG Hermes concludes advisory on $769m IPO of ADNOC Logistics & Services on ADX  EFG Hermes concludes advisory on $769m IPO of ADNOC Logistics & Services on ADX 
Next Article Al Ahly Pharos tops brokerage ranking in May Al Ahly Pharos tops brokerage ranking in May
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?