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Wednesday, 6 April 2022

Hassan Allam Properties takes out EGP 1.8 bn loan for West Cairo development

A Hassan Allam Properties subsidiary has secured EGP 1.8 bn in financing from the National Bank of Egypt (NBE) and AAIB to finance its residential project Swan Lake West in Sixth of October, according to a statement (pdf).

The project: The financing is set to accelerate construction at Swan Lake West, which will house around 550 units over 173 feddans, the statement says.

Advisors: Adsero-Ragy Soliman & Partners acted as legal advisor for the two banks, and Matouk Bassiouny & Hennawy acted as legal advisor for Hassan Allam Properties. Misr Company for Management and Engineering Development acted as the independent engineering advisor.

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