Banque Misr inks EGP 2.6B credit facility with Hyde Park
Updated 3/6/2025 11:30:00 AM
Arab Finance: Banque Misr signed a medium-term credit facility deal worth EGP 2.6 billion with Hyde Park Developments, according to a press release.
Hyde Park will utilize the loan to finance part of the investment cost of the Seashore project in the North Coast.
The signing ceremony was attended by Banque Misr’s CEO Hisham Okasha and Chairman of Hyde Park Developments Hassan Ghanem, along with a group of bank and company leaders.
Spanning 240 feddans in the North Coast, the Sea Shore project includes several buildings, residential and hotel units for sale, in addition to commercial units for rent.
Okasha highlighted that this financing aligns with Banque Misr’s vital role in supporting the Egyptian economy, adding that the bank places special importance on supporting real estate development companies.
Meanwhile, Ghanem pointed out that the development scheme marks a new milestone in Hyde Park’s journey toward creating integrated urban communities with investment and tourism characteristics.
Related News
