Orascom Real Estate (ORE) has lined up EGP 6 bn to fast-track construction at its O West project in Six October, parent company Orascom Development Egypt said in a filing with the stock exchange (pdf).

What’s the money for? The property developer will use funds from the 10-year syndicated loan to partially finance the development of O West project and meet its aim of delivering upwards of 1k units in 2024. Part of the proceeds will be used to refinance an EGP 1.5 bn bridge facility ORE took out last year for the project.

ADVISORS- EFG Hermes (pdf) acted as ORE’s sole financial advisor, lead manager, and bookrunner. CIB and Banque Misr were mandated lead arrangers. MHR & Partners and White & Case acted as counsel.

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