Banque Misr has signed an agreement to provide EGP 10 billion in financing to Founders Real Estate Marketing, a subsidiary of Hyde Park Developments. Prime Minister Mostafa Madbouly attended the signing ceremony on Monday. The credit facility, which spans up to eight years, is intended to cover the purchase and marketing of assets owned by the New Urban Communities Authority, alongside related operational costs.
The initiative aligns with the government’s Egypt Vision 2030, which prioritizes urban development and affordable housing for middle-income citizens. Hisham Okasha, CEO of Banque Misr, stated that the real estate sector remains a significant driver of economic growth and employment. Officials noted that the partnership reflects confidence in the domestic real estate market and supports broader state efforts to expand integrated urban projects. #EgyptRealEstate #BanqueMisr #Construction