PROJECT

Projects

Summary of Proposed Investment

Project Number

26646

Company Name

Amlak Finance & Real Estate Investment

Date SPI Disclosed

Jan 25, 2008

Country

Egypt, Arab Republic of

Industry

Financial Markets

Projected Board Date

Mar 3, 2008

Status

Pending Signing

Sector

Primary Mortgage Institutions

Department

Regional Industry - FIG Africa

Environmental Category

C - No Impact

Previous Events

Approved : Oct 7, 2008

Project Description

This project involves an IFC equity investment for a minority stake in Amlak Finance and Real Estate Egypt (AFE or the company). AFE will be the first provider of Islamic Mortgage Products in Egypt. IFC has identified this transaction with Amlak UAE (the sponsor), a leading Mortgage Finance Company in the UAE.

IFC is considering Amlak Finance - UAE as a potential MENA regional champion and has been in discussions with Amlak Finance on their future regional expansion plan. Amlak Finance - UAE is seeing this project as a first step towards a long term partnership with IFC which may lead to a number of similar ventures in other parts of MENA.

Sponsor / Cost / Location

Development Impact