The loan aims to cover the investment costs for the upcoming
phases of the project, which is being developed by Tameer Real Estate
Development (Tameer Engineering and Consulting Company).
Emirates NBD Egypt acted as the initial mandated lead
arranger, bookrunner, facility agent, and lender. The syndicate also included
SAIB Bank and Baraka Bank Egypt as lead arrangers and lenders, and the
Industrial Development Bank (IDB) as lead arranger, compensation account bank,
and lender. Sarie El-Din Law Firm served as the legal advisor for the lenders.
Saad Al-Wazzan,
Chairman of Tameer Real Estate Development, Saad the partnership with leading financial
institutions strengthens the Egyptian real estate sector’s ability to attract
additional regional and international investments.
Wali Doulati, Chairman of Azad Views Company and Vice
Chairman of Tameer Real Estate Development, stated that the Azad Views project
comprises over 1,000 residential units. He emphasized that financing aimed at
high-quality and sustainable projects is a key driver of real development in
Egypt in the coming phase.