{"id":617014,"date":"2024-03-14T00:00:00","date_gmt":"2024-03-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/five-companies-are-mulling-sukuk-issuances-this-year-plus-news-from-contact-hassan-allam-properties\/"},"modified":"2024-03-14T00:00:00","modified_gmt":"2024-03-14T00:00:00","slug":"five-companies-are-mulling-sukuk-issuances-this-year-plus-news-from-contact-hassan-allam-properties","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/five-companies-are-mulling-sukuk-issuances-this-year-plus-news-from-contact-hassan-allam-properties\/","title":{"rendered":"Five companies are mulling sukuk issuances this year. PLUS: News from Contact, Hassan Allam Properties"},"content":{"rendered":"

DEBT-<\/p>\n

Five corporate sukuk issuances incoming? <\/strong>Five companies are in talks with the Financial Regulatory Authority (FRA) to move ahead with sukuk issuances worth a combined EGP 10 bn, Sayed Abdel Fadil, head of the FRA\u2019s Central Administration for Finance, told Asharq Business<\/a>. Among the interested companies are Contact Financial Holding, MNT-Halan\u2019s Tasaheel, GB Capital, and Rawasi Urban Development, a source familiar with the matter told the news outlet.<\/p>\n

REAL ESTATE-<\/p>\n

Real estate giant Hassan <\/strong>Allam Properties (HAP) has acquired a 279-feddan land plot in Midar\u2019s Mostakbal City<\/strong>, marking HAP\u2019s third partnership with Midar in the eastern Cairo city after Haptown and The Valleys, according to a joint statement (pdf)<\/a>. The project will see a total investment of EGP 35 bn to turn the plot into a mixed-use development, featuring \"well-integrated lifestyle\" of single and multifamily homes, in addition to commercial spaces. <\/p>\n

NBFS-<\/p>\n

Contact Financial Holding\u2019s Contact Pay customers will now be able to make use <\/strong>of OPay\u2019s <\/strong>channels <\/strong>\u2014 which include over 90k points of sale and payment kiosks \u2014 under a cooperation agreement signed between the two, according to a press release (<\/a>pdf)<\/a>.<\/p>\n

COMMODITIES-<\/p>\n

Gov\u2019t to pay more for local wheat:<\/strong> The Madbouly government will pay farmers EGP 2k per ardeb of wheat this harvest season \u2014 up from last year\u2019s EGP 1.5k price point \u2014 after cabinet<\/a> approved the price tag. <\/p>\n

PROCUREMENT-<\/p>\n

Mayar Holding to give construction company Total Air a lift: <\/strong>Egypt Gulf Elevators & Escalators \u2014 a subsidiary of Saudi Arabia\u2019s Mayar Holding<\/a> \u2014 will supply and install 1.2k elevators for local construction firm Total Air<\/a>Projects<\/a> under a EGP 840 mn contract, according to a filing to Tadawul<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Among the interested companies are Contact Financial Holding and MNT-Halan\u2019s Tasaheel<\/p>\n","protected":false},"author":1,"featured_media":617015,"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":[7209],"tags":[111,317,933,72,76,3046,595,1078,83,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-contact-financial","tag-enterpriseam","tag-financial-regulatory-authority","tag-hassan-allam-properties","tag-non-banking-financial-services","tag-opay","tag-real-estate","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"58d7b10d-1b31-4123-b4ac-7c45cb4f6ecb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/696.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Five Egyptian companies are mulling sukuk issuances this year","related_issue":[616997],"teaser":"Among the interested companies are Contact Financial Holding and MNT-Halan\u2019s Tasaheel","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.b802411a-9cc9-4fe2-b6bc-4b064782f5f9.mp3"},"yoast_head":"\nFive companies are mulling sukuk issuances this year. 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The sharia-compliant mudaraba sukuk carries a seven-year tenor and will be used to finance the expansion of\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/263.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559724,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/02\/sarwas-advisory-pipeline-includes-egp-10-bn-worth-of-sukuk\/","url_meta":{"origin":617014,"position":1},"title":"Sarwa\u2019s advisory pipeline includes EGP 10 bn worth of sukuk","author":"enterpriseam admin","date":"2 February 2021","format":false,"excerpt":"Sarwa Capital is quarterbacking at least three sukuk issuances this year with a combined value of more than EGP 10 bn, the local press reports, citing sources in the know. The consumer- and structure-finance player\u2019s sukuk issuance manager, Sarwa Sukuk Company, is currently working on an EGP 5.5 bn offering\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-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":566554,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/contact-to-issue-egp-2-5-3-bn-sukuk-in-3q2021\/","url_meta":{"origin":617014,"position":2},"title":"Contact to issue EGP 2.5-3 bn sukuk in 3Q2021","author":"enterpriseam admin","date":"27 June 2021","format":false,"excerpt":"Contact Financial Holding, formerly Sarwa Capital Holding, will issue sukuk worth EGP 2.5-3 bn in 3Q2021 in a bid to finance the activities of its subsidiaries, unnamed source at the company told Enterprise, confirming statements by CEO Saeed Zaatar to local press. The company provided no further details on the\u2026","rel":"","context":"In "SPEED ROUND: DEBT WATCH"","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/593.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562675,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/wadi-deglas-real-estate-arm-plans-to-tap-sukuk-market-next-month\/","url_meta":{"origin":617014,"position":3},"title":"Wadi Degla\u2019s real estate arm plans to tap sukuk market next month","author":"enterpriseam admin","date":"2 June 2021","format":false,"excerpt":"Wadi Degla Developments is planning a sukuk issuance worth nearly EGP 2 bn that will be managed by Contact Financial (previously known as Sarwa Capital) and Banque Misr investment arm Misr Capital, Contact Financial CFO Ayman El Sawy tells us. The sale might go ahead in as little as one\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599272,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/two-companies-express-interest-in-issuing-sukuk-to-fra\/","url_meta":{"origin":617014,"position":4},"title":"Two companies express interest in issuing sukuk to FRA","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"Are we on the cusp of a sukuk issuance spree? Two unnamed companies partially owned by the government have expressed their interest in issuing shariah-compliant sukuk bonds to finance new projects this year, sources tell Al Mal. One issuance would be worth EGP 1 bn, while the value of the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597091,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/sarwa-capital-gets-egypts-first-sukuk-issuer-license\/","url_meta":{"origin":617014,"position":5},"title":"Sarwa Capital gets Egypt\u2019s first sukuk issuer license","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"Sarwa just got Egypt\u2019s first sukuk issuer license: Consumer- and structured-finance player Sarwa Capital has been granted the country\u2019s first sukuk issuer license by the Financial Regulatory Authority (FRA), the company said in a statement to the bourse (pdf). Sarwa now has the green light to issue the sharia-compliant bonds\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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\/617014","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=617014"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617014\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/616997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617015"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617014"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617014"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}