41781
EGYPTIAN CENTRES FOR REAL ESTATE DEVELOPMENT SAE
Mar 30, 2020
Egypt, Arab Republic of
Africa
Apr 30, 2020
B - Limited
Hold
Sep 30, 2022
Regional Industry - MAS ME & Africa
Tourism, Retail and Property
Approved : Jun 12, 2020
other
The proposed investment consists of a US$135 million in A Loan, of which $45 million is to finance the retail property business of Egyptian Center for Real Estate Development, SAE, Egypt (“ECRED” or “the Company”) owned by AlHokair Family (“Sponsors”). In addition, the investment will also consist of a US$90 million loan to Saudi FAS Holding Company, KSA (Saudi FAS) to refinance its existing capital contribution in ECRED for existing operations in Egypt. Saudi FAS is also fully owned by the Sponsors.
The financing will support ECRED’s business expansion by partly funding retail and commercial projects in newly developed areas of Cairo and secondary cities in Egypt.
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Local Access of Project Documentation
Juhayna Square – Mall of Arabia Gate 4, Giza Governorate, Cairo, Egypt