Beltone Leasing seals EGP 500M sale-and-leaseback deal with Hassan Allam Properties
Updated 6/1/2023 9:55:00 AM
Arab Finance: Beltone Leasing, a subsidiary of Beltone Financial Holding, has sealed an EGP 500 million sale-and-leaseback agreement with Hassan Allam Properties Group (HAP), according to a press release.
The financing will be directed to equally finance commercial and hospitality assets for two arms of HAP, namely International Company for Tourism and Development and Katameya for Development, Tourism, and Real Estate.
The deal has a seven-year tenor, offering HAP an appealing and alternative capital raising approach that will allow it to meet its growth plans.
“This agreement aligns with our robust growth plans and strategic vision at Hassan Allam Properties Group, which in part entail expanding our landbank and geographic reach,” Mohamed Allam, CEO of HAP, commented.
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