{"id":562830,"date":"2021-06-08T04:00:13","date_gmt":"2021-06-08T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/"},"modified":"2021-06-08T04:00:13","modified_gmt":"2021-06-08T04:00:13","slug":"tmg-does-another-jv-with-state-owned-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/","title":{"rendered":"TMG does another JV with state-owned banks"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The National Bank of Egypt (NBE), Banque Misr and Talaat Moustafa Group (TMG) <\/strong><strong>have established a new real estate joint venture<\/strong>, dubbed Rawasi, with paid-in capital of EGP 200 mn, NBE Deputy Chairman Yehia Abou El Fettouh told <a href=\"https:\/\/bit.ly\/3cqfc5H\">Masrawy<\/a>.<\/p>\n<p><strong>What\u2019s in the pipeline?<\/strong> The new company obtained a EGP 9 bn joint loan from both banks to develop assets in TMG\u2019s Madinaty compound, Abou El Fettouh said.<\/p>\n<p><strong>This is the second real estate JV TMG has set up with NBE and Banque Misr: <\/strong>In late 2020, TMG established <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d57dbb2-8570-4788-8d40-4bfd44e9ac06\">its first JV<\/a> with both state-owned banks to develop the pair's residential lands worth EGP 5 bn in TMG\u2019s Madinaty and Rehab compounds. Four other banks later bought into the JV<sup><\/sup><sup><\/sup>, including Suez Canal Bank, Export Development Bank of Egypt, United Bank and the Egyptian Gulf Bank. CIB and TMG also established in 1Q2021 a real estate SPV, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d925b84-7945-447e-a88e-c1246d9bbd27\">dubbed TCA Properties<\/a>, to acquire, sell and lease commercial properties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bank of Egypt (NBE), Banque Misr and Talaat Moustafa Group (TMG) have established a new real estate joint venture, dubbed Rawasi, with paid-in capital of EGP 200 mn, NBE Deputy Chairman Yehia Abou El Fettouh told Masrawy. What\u2019s in the pipeline? The new company obtained a EGP 9 bn joint loan from both [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":562831,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[576,72,83,1517],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-banque-misr","tag-enterpriseam","tag-real-estate","tag-talaat-moustafa-group","wpautop","entry"],"acf":{"mongo_id":"d8107bc2-e6df-42b0-abb7-457eade5a16c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/106.jpg","photo_position":"above","related_issue":[562820],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TMG does another JV with state-owned banks - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TMG does another JV with state-owned banks\" \/>\n<meta property=\"og:description\" content=\"The National Bank of Egypt (NBE), Banque Misr and Talaat Moustafa Group (TMG) have established a new real estate joint venture, dubbed Rawasi, with paid-in capital of EGP 200 mn, NBE Deputy Chairman Yehia Abou El Fettouh told Masrawy. What\u2019s in the pipeline? The new company obtained a EGP 9 bn joint loan from both [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-08T04:00:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TMG does another JV with state-owned banks\",\"datePublished\":\"2021-06-08T04:00:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\"},\"wordCount\":163,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Banque Misr\",\"EnterpriseAM\",\"real estate\",\"Talaat Moustafa Group\"],\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\",\"name\":\"TMG does another JV with state-owned banks - 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CIB will own 37% of the new entity, with TMG holding the rest. The new venture will acquire, sell and lease commercial properties, and CIB\u2026","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567775,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/07\/blom-bank-egypt-getting-ready-for-its-sale-to-bank-abc\/","url_meta":{"origin":562830,"position":1},"title":"Blom Bank Egypt getting ready for its sale to Bank ABC?","author":"enterpriseam admin","date":"7 December 2020","format":false,"excerpt":"Blom Bank Egypt is getting its ducks in a row ahead of its potential sale to Bahrain\u2019s Bank ABC, amending its employee salary structures to comply with Central Bank of Egypt regulations, Al Shorouk reports, citing unnamed sources. In a bidding process that also saw interest from Emirates NBD, Bank\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566287,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/tmg-says-its-not-doing-another-jv-with-banks-abuk-net-income-up\/","url_meta":{"origin":562830,"position":2},"title":"TMG says it\u2019s not doing another JV with banks + ABUK net income up","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"FACT CHECK- Talaat Moustafa Group (TMG) says it hasn\u2019t established a new real estate joint venture, dubbed Rawasi, with the National Bank of Egypt and Banque Misr, according to an EGX disclosure (pdf). We picked up news in yesterday\u2019sAM edition from Masrawy that TMG had set up a new company\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570729,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/egyptian-state-owned-banks-snap-up-tmg-sukuk-issuance\/","url_meta":{"origin":562830,"position":3},"title":"Egyptian state-owned banks snap up TMG sukuk issuance","author":"enterpriseam admin","date":"13 April 2020","format":false,"excerpt":"State-owned banks snap up TMG sukuk issuance: Three state-owned banks have taken 97.25% of the EGP 2 bn of sukuk issued by Talaat Moustafa Group last week, Al Mal reports, citing unnamed informed sources. Banque Misr and Banque du Caire each bought EGP 725 mn of the securities and Suez\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574188,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/banque-misr-nbe-sign-egp-4-bn-agreement-with-talaat-moustafa-subsidiary-to-develop-residential-projects\/","url_meta":{"origin":562830,"position":4},"title":"Banque Misr, NBE sign EGP 4 bn agreement with Talaat Moustafa subsidiary to develop residential projects","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"Banque Misr and the National Bank of Egypt (NBE) have signed a EGP 4 bn financing agreement with Talaat Moustafa Group subsidiary the Arab Company for Projects and Urban Development to construct two mixed-use projects in Madinaty and Rehab City on a combined 341k sqm of land, according to an\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599907,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/tmg-to-invest-egp-300-bn-in-new-project-in-madinaty\/","url_meta":{"origin":562830,"position":5},"title":"TMG to invest EGP 300 bn in new project in Madinaty","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"Talaat Moustafa Group (TMG) is investing EGP 300 bn in the Spine, a mixed use project in TMG\u2019s Madinaty city, the company said in a disclosure to the EGX (pdf). The project includes residential, administrative, commercial, and recreational units.","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562830"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562830\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562831"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562830"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562830"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}