Arab Finance: Egypt-based real estate developer Tatweer Misr has secured EGP 3 billion in financing from Al Taamir Leasing and Factoring Company (Al Oula) to accelerate construction at Fouka Bay and D-Bay developments on the North Coast, as per a press release.

The funding is divided equally between the two projects, allocating EGP 1.5 billion to each. Tatweer Misr plans to use the facility to complete the remaining construction work within two years while diversifying its financing sources and directing capital toward projects under development.

Fouka Bay is approximately 80% complete, leaving around 20% of construction outstanding. Work at D-Bay has reached about 65%, with the remaining 35% covered by the company’s completion plans.

The financing builds on Tatweer Misr’s delivery record at D-Bay, where the company began handing over several residential units within two years of launching the project, including units delivered ahead of schedule. The developer is now seeking to maintain construction activity and raise delivery rates across both North Coast projects.

Ahmed Shalaby, President and CEO of Tatweer Misr, said: “This financing represents a natural extension of this approach, supporting the completion of our ongoing developments against clear execution plans, while enhancing the value we create for our customers and partners. We remain committed to developing integrated communities that create sustainable long-term value and deliver on the aspirations of our clients.”

Haitham Serag, CEO of Al Taamir Leasing and Factoring, commented: “As part of this approach, we are committed to directing our financing solutions toward sectors with a direct impact on the Egyptian economy, particularly real estate, tourism and hospitality. The financing of Fouka Bay and D-Bay reflects our commitment to supporting investment and development across Egypt’s North Coast, which has emerged as one of the country’s most important tourism and investment destinations, with significant growth potential across the real estate, tourism and hospitality sectors.”