تحالف مصرفي يمنح تمويلاً مشتركاً لشركة بالم للتنمية العمرانية بقيمة 10.3 مليار جنيه
تحالف مصرفي يمنح تمويلاً مشتركاً لشركة بالم للتنمية العمرانية بقيمة 10.3 مليار جنيه هذا هو موضوع مقالنا عبر موقعكم «احوال دمياط»، حيث نجيبكم فيه على كافة الاسئلة، ونلقي الضوء على كل ما يهمكم في هذا الموضوع ..فتابعو السطور القادمة بمزيد من الاهتمام.
16A banking alliance succeeded, including the Bank of Egypt as the initial main arranger, financing marketer, financing agent, account bank, and intermediary account bank, the National Bank of Egypt as the initial main arranger and financing marketer, the Bank of Cairo as the initial main arranger, financing marketer, and debt service consumption account bank, and Emirates NBD Bank as the arranger. Principal and Escrow Agent, Abu Dhabi Commercial Bank as arranger, Al Baraka Bank as arranger, Al Ahli Bank of Kuwait – Egypt as arranger, and the Industrial Development Bank as lender; By granting Palm Urban Development Company, one of the Palm Hills companies, a joint long-term loan worth up to 10.3 billion pounds, with the aim of partially financing the investment cost of the “Badia” urban project in New October City. The signing was attended by Hisham Okasha, CEO of Banque Misr, and Soha Al-Turki, Executive Vice President of the National Bank. The joint financing contract was signed by Mohamed Khairat, Head of the Corporate Credit and Syndicated Loans Sector at Banque Misr, Sherif Riad, CEO of Corporate Banking Credit and Syndicated Loans at the National Bank of Egypt, and Mohamed Shaker, Supervisor of the Corporate Banking Credit Group and the Syndicated Loan Credit and Structured Finance Sector at the Banque du Caire. Tamer Ragheb, Head of the Corporate and Financial Institutions Sector at Emirates NBD Bank – Egypt, Hisham Abbas, Executive Board Member and Head of Corporate and Financial Institutions Finance at Abu Dhabi Commercial Bank, and Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank. Khaled Al-Salawi, CEO and Managing Director, were also present. For the National Bank of Kuwait – Egypt, Hussein Rifai, Chairman of the Board of Directors and Managing Director of the Industrial Development Bank, and on behalf of Palm Hills, Ali Thabet, Managing Director for Financial Affairs, Amr Mahfouz, Executive Vice President for Development, and a distinguished group of leaders of those banks and the company. The office of Helmi, Hamza and their partners, “members of the law firm Baker & McKenzie International,” acts as the legal advisor to the banks, and the office of Matouk Bassiouni serves as the legal advisor to Palm Hills. It is worth noting that this financing is the largest loan in terms of size granted to companies operating in the private sector in the field of real estate development in the market. The “Badia” city project, located in New October City, is one of the largest investment projects in the real estate sector, the first sustainable city in Egypt. In accordance with the United Nations Sustainable Development Goals and the first smart city in western Cairo on an area of about 3,000 acres, the project is located in a strategic location near the Giza Pyramids and the new Sphinx International Airport, and 45 minutes away from the New Administrative Capital, making it the link between western and eastern Cairo. The project aims to create a new integrated and multi-use community that provides a variety of residential units, commercial, administrative and recreational services, in addition to educational, sports and social facilities, and central parks. The project is also distinguished by consolidating the concepts of sustainability and providing an integrated healthy environment that meets the needs of its residents, and relies on artificial intelligence technology and technology applications. This contributed to reducing the operational costs of the project by 20%, reducing water and energy consumption rates by 30%, in addition to producing 30% from renewable energy sources, making it one of the most important and largest projects of Palm Hills Development Group in the Egyptian market. Hisham Okasha, CEO, confirmed that The Bank of Egypt acknowledges the vital role played by the Egyptian banking sector in supporting the national economy, and that the Bank of Egypt’s participation in this financing is a continuation of its pioneering role in supporting the Egyptian economy, especially since the real estate sector is one of the most important sectors influencing the Egyptian economy. This is because it is linked to a large group of industries and intermediate activities, which the bank is keen to finance to provide more job opportunities in various specializations in a way that practically serves development plans. Banque Misr’s participation in this joint financing is also a continuation of the intensive marketing plans that Banque Misr is pursuing to implement its strategic objectives in supporting The national economy in various fields and sectors, as the Banque Misr, as a leading banking institution, is always keen to enter into initiatives and protocols that aim to provide services that suit the needs of all customer segments, as the Banque Misr believes in the necessity of concerted efforts in order to support the state’s plans to support the national economy, as it works Banque Misr has always been a catalyst for national and strategic development, due to its belief in sustainability and continuous development.” Commenting on this, Yassin Mansour, Chairman of the Board of Directors and Executive Group of Palm Hills, commented: “This large financing reflects the confidence of banking institutions in Palm Hills and the commitment of the banking sector to contribute to the development of communities.” Integrated residential and commercial.” Palm Hills looks forward to opening new horizons for investment and enhancing confidence in the Egyptian real estate market, which supports sustainability and growth in this vital sector. Our strategy depends on developing projects that combine distinguished living with a high investment return, which enhances our ability to advance the development of the Egyptian real estate market and increases investor confidence in the long term. The Badya city project has proven to be the first sustainable city in Egypt and the first smart city in West Cairo is worthy of becoming a role model in sustainable urban development, benefiting from the latest artificial intelligence and smart infrastructure technology. We look forward to achieving further progress in this promising project, which contributes to achieving our goals of promoting sustainability and innovation, and realizing our vision of creating a living environment. Integrated to meet the needs of the future, Mohamed El-Etreby, CEO of the National Bank of Egypt, said that the alliance of national banks in participating in financing major projects enhances the concerted efforts made by financial institutions in order to support the state’s plans to advance the national economy, and the banks are keen to play their vital role in supporting all activities that contribute In supporting the national economy, and providing banking and financial services in an easy and advanced manner, banks work to enhance the excellence of their services, maintain their long-term success, and participate effectively in services that meet the needs of their customers. As the values and strategies of its work always reflect its commitment to the sustainable development and prosperity of Egypt. He added that arranging this financing from the participating national banks comes as a continuation of the support for the real estate sector in Egypt, in line with the state’s tendency to expand this sector and increase the volume of investments in it, especially since this support contributes significantly to Enhancing the efficiency of infrastructure to meet the needs of all companies seeking to seize investment opportunities in the Egyptian market. He stressed that the real estate sector in Egypt is considered one of the strategic sectors that are linked to many other economic activities and complementary services, such as the construction and contracting sector and the building materials sector, which contributes to the development of resources. And the capabilities of the national economy through the localization of industry, increasing the added value, increasing the national product, and creating more job opportunities for Egyptian youth, stressing that the real estate development sector plays an important role in achieving the state’s goals in sustainable development, and providing basic services to citizens. For his part, Bahaa Al-Shafi’i, Deputy The CEO of Banque du Caire said that the real estate development sector represents an important pivotal dimension for achieving comprehensive development, as real estate development projects contribute to creating more job opportunities for young people in this strategic sector as well as the industries associated with it. Banque du Caire’s participation in this financing process comes as it is the main initial salary earner and marketer. Financing and Debt Service Consumption Account Bank due to the bank’s distinguished experience in the field of structural financing and joint loans as an effective financing partner with major companies and banks in the field of joint financing, explaining the importance of this financing process, which witnessed the joining forces of 8 banks in the Egyptian banking sector to support the “Badia” project, which It is considered one of the largest and most promising investment projects in the field of real estate development. For his part, Amr El Shafei, CEO of Emirates NBD Bank – Egypt, commented: “This huge financial alliance represents a fundamental step towards enhancing fruitful integration between the banking and real estate sectors in Egypt. Our support for the Badya City project is in line with our strategy to meet the vital financing needs of strategic projects and our belief in the pivotal role that the project will play in advancing sustainable economic development in Egypt, creating new job opportunities, and improving the quality of life for citizens by providing integrated residential communities and innovative services.” Hisham Abbas, Executive Board Member and Head of Corporate and Financial Institutions Finance – Abu Dhabi Commercial Bank Egypt, stated, “We are pleased to participate in one of the largest joint financing deals in Egypt with a group of leading banks for the benefit of Palm Urban Development Company, one of Palm Hills companies, and its importance.” Great in the field of real estate investment. This clearly reflects the bank’s flexibility and our ability to provide innovative financing solutions to our customers to support their projects and expansion plans to directly benefit the Egyptian economy. The year 2024 recorded a significant increase in Abu Dhabi Commercial Bank Egypt’s portfolio of joint financing in particular, as well as the loan and facilities portfolio in general, in implementation of the bank’s plan to have a strong presence and expansion in the Egyptian market. In this context, Hazem Hegazy, CEO and Vice Chairman of the Board of Directors, stated: Al Baraka Bank, saying: This strategic banking cooperation between eight of the most important banks operating in the Egyptian banking sector and Palm Hills Company, which is one of the largest real estate developers in Egypt, reflects our commitment to advancing economic growth, as the “Badia” project is a pioneering investment model in the sector. Real estate combines innovation and sustainability, provides new job opportunities, and enhances urban infrastructure. Our participation in this financing comes within our strategy, which includes empowering major companies by providing innovative financing solutions that support sustainable development plans in Egypt, in accordance with the principles of Islamic Sharia.” In the same context, Khaled Al-Salawi, CEO and Managing Director of Al Ahli Bank of Kuwait, stated – Egypt, saying: “Al Ahli Bank of Kuwait – Egypt is firmly committed to supporting and financing all vital sectors in the Egyptian market, out of the bank’s belief in the necessity of concerted efforts in order to support the state’s plans to advance the national economy and maximize the benefit that accrues to the entire society, stressing that the bank has an insightful vision.” To finance this type of economically and nationally feasible deals to achieve sustainable development and Egypt’s Vision 2030. He also stressed the keenness of the National Bank of Kuwait – Egypt, since the beginning of its operations in the Egyptian banking market, to continue implementing its integrated strategy and expansion plan, which aims to develop its portfolio of companies and provide credit facilities to customers. From companies from various sectors, the bank will continue its role in supporting major companies by providing multi-purpose financing services and solutions that meet their needs and enable them to achieve their operational goals to the fullest in light of a local and global economic climate full of variables. He praised the successful cooperation between the banks participating in this deal. The joint financing procedures were completed professionally and professionally, which reflects the permanent cooperation between banks and the strong role of the Egyptian banking sector and its ability to provide cash liquidity to enhance the financing of various development projects in a way that contributes to the development of the national economy. He explained that the bank’s participation in its role as an “arranger and lender” in this long-term joint financing. It is an important step towards strengthening the real estate sector and supporting the company’s efforts to implement its various projects and complete its expansion plans. Hussein Rifai, CEO and Managing Director of the Industrial Development Bank, stated that the participation of the Industrial Development Bank in this large financing comes within the framework of our strategy to support national projects that contribute to enhancing economic growth and providing… New job opportunities. We are committed to supporting the real estate development sector, which is a fundamental pillar of supporting the Egyptian economy and its direct impact on many other service sectors, as the Badya project is one of the important projects that contribute to improving the quality of life and providing an integrated model for sustainable urban development. We are proud to provide this support alongside the strong banking alliance, and we look forward to achieving more successes that benefit the national economy.”
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