Three local banks lend Tatweer Misr EGP 3.5 bn

Tatweer Misr has secured an EGP 3.5 bn financing agreement with the National Bank of Egypt, AAIB, and Banque Misr, President and CEO Ahmed Shalaby told Hapi Journal. The agreement will help finance the company’s Il Monte Galala beachfront development in Ain Sokhna and its Bloomfields residential compound in New Cairo, our source said. Tatweer Misr has been in talks to secure the loan since November.