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Banque Misr-led consortium extends additional EGP 4B financing to Ora Developers

Updated 7/9/2026 3:18:00 PM
Banque Misr-led consortium extends additional EGP 4B financing to Ora Developers

Arab Finance: Banque Misr has led a consortium of four Egyptian banks in extending an additional EGP 4 billion in syndicated financing to Ora Developers Egypt, owned by businessman Naguib Sawiris, bringing the company's total financing under the facility to EGP 9 billion, as per a statement.

The additional financing follows a previous EGP 5 billion loan and will be used to fund part of the remaining construction costs of the ZED ElSheikh Zayed project.

Located on 165 feddans in West Cairo, ZED ElSheikh Zayed development comprises residential, commercial, administrative, and entertainment units, in addition to green spaces and integrated facilities, to cater to demand for mixed-use real estate projects.

Banque Misr acted as the initial mandated lead arranger, underwriter, facility agent, security agent, account bank, and documentation bank for the transaction.

The lending consortium includes Emirates NBD Egypt, Housing and Development Bank, and the Export Development Bank of Egypt (EBank), which participated as mandated lead arrangers and underwriters.

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