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 3bn to support the company’s operations and enhance overall operational efficiency.
The agreement was signed by Hisham Okasha, CEO of Banque Misr, and Ahmed Dasha Badrawi, Executive Vice Chairperson of MARAKEZ, in the presence of Amr Damerdash, Head of Corporate Credit and Syndicated Loans at Banque Misr, Osama Ezzo, Chief Financial Officer of MARAKEZ, and senior representatives from both organisations.
The transaction was overseen by Baker McKenzie, one of the world’s leading international law firms. Repayment of the facility will be supported by stable cash flows generated from commercial lease revenues at Mall of Arabia, one of Egypt’s largest and most prominent retail destinations.
Located in 6th of October City, Giza, Mall of Arabia spans approximately 148 feddans and comprises 420 retail units, with a total gross leasable area of around 142,000 square metres.
Commenting on the agreement, Hisham Okasha said 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 added that this approach aligns with Egypt’s comprehensive urban development strategy under Vision 2030.
Okasha further highlighted the real estate sector as a key pillar of the national economy, given its close linkages with numerous supporting industries and its direct contribution to job creation and sustainable economic growth. He also underscored Banque Misr’s commitment to offering innovative and diversified financing solutions that adhere to international banking best practices, support sustainable development goals, and enable businesses to scale, grow, and create long-term economic value.
For his part, Ahmed Dasha Badrawi 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 characterised 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 the new urban communities, as well as District Five, East Cairo’s leading mixed-use destination.
The portfolio also includes Mall of Tanta, which opened in 2019, Town Center, launched in 2020, and Mall of Mansoura, scheduled to open soon. Through its diversified 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 broader banking strategy, Banque Misr continues to finance real estate projects across various scales and asset classes, including commercial, residential, and mixed-use developments, with a particular focus on initiatives that promote sustainable urban growth in new cities and help alleviate congestion in existing urban centres.
The bank also remains committed to delivering advanced banking services that enhance customer convenience and experience, while maintaining service excellence and long-term performance—reflecting its core values and mission to support sustainable development and economic prosperity across Egypt.
