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Wednesday, 4 August 2021

Hotelier Rotana to manage new residential developments + Bausch Health continues global debt reduction strategy

The IFC will invest USD 100 mn in Egypt’s first corporate green bond offering by CIB, the institution announced in a statement. The bond will help CIB finance businesses looking to invest in green buildings, renewable energy, and other eco-friendly solutions, with the IFC financing its investment through the UK-IFC Market Accelerator for Green Construction. The IFC will also provide advisory support to CIB, including technical assistance. CIB’s green bond is the first such offering by a corporation in Egypt.

International hotelier Rotana has signed agreements with two local real estate firms to manage residential developments, it recently announced in a statement. The Emirati firm will manage Al Marasem Development’s New Cairo Lake Residence apartments, and Marina Way Lagoon’s Marina Bay holiday rentals in Alamein on the North Coast.

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Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.