Tatweer Misr eyes securing up to EGP 3B bank funding
Updated 9/25/2024 1:13:00 PM
Arab Finance: The Egyptian real estate company Tatweer Misr is planning to secure bank loans ranging from EGP 2 to EGP 3 billion over the coming period, Tatweer’s CEO Ahmed Shalaby told Al Borsa News.
The financing is set to fund the construction works of the company’s projects, in addition to supporting its expansion plan, especially abroad, Shalaby noted.
He added that the firm is considering the implementation of four new investment projects in Saudi Arabia, in partnership with Saudi government entities or private companies.
Furthermore, the company is planning to launch its first real estate project in Saudi Arabia’s Riyadh, in partnership with Naif Alrajhi Investment, Shalaby said.
He pointed out that the company achieved contractual sales of EGP 21 billion since the beginning of the current year, targeting a total of EGP 32 billion by the year-end.
Moreover, the company aims to invest EGP 10 billion in the construction works of its ongoing projects by end-2024.
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