{"id":664819,"date":"2025-05-07T00:00:00","date_gmt":"2025-05-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/"},"modified":"2025-05-07T00:00:00","modified_gmt":"2025-05-07T00:00:00","slug":"hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/","title":{"rendered":"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale"},"content":{"rendered":"

Hassan Allam Construction taps local sukuk market in first-ever issuance: <\/strong>Our friends at Hassan Allam Construction closed an EGP 2.8 bn musharaka sukuk issuance, marking their debut into the debt capital market, according to a press release (pdf)<\/a>. Proceeds from the debt sale will go towards financing one of Hassan Allam Construction\u2019s Bab Misr project. <\/p>\n

Demand ran hot: <\/strong>The offering saw strong demand and closed oversubscribed. The National Bank of Egypt and Suez Canal Bank were underwriters, with additional participation from Abu Dhabi Commercial Bank, Industrial Development Bank, and Saib. <\/p>\n

The details: <\/strong>The issuance was structured as a musharaka sukuk, giving investors joint ownership in the underlying project \u2014 here Bab Misr \u2014 with returns tied to the project\u2019s actual performance rather than a fixed rate.<\/p>\n

ADVISORS-<\/strong> Al Ahly Pharos quarterbacked the transaction as lead manager, financial advisor, bookrunner and underwriter. Zulficar and Partners provided legal counsel, with Baker Tilly serving as auditor. Meanwhile, MERIS acted as the credit rating agency, ECG as independent engineer, and RSM as the independent financial advisor.<\/p>\n

About Bab Misr: <\/strong>Bab Misr is a 100k sqm greenfield mixed-use project located in Cairo. The development includes 17 buildings for commercial, residential, administrative, medical, and parking use. It is owned by Hassan Allam Construction\u2019s wholly-owned subsidiary Bab<\/a>Misr<\/a>Development<\/a> and falls under a broader redevelopment plan for the area around the Upper Egypt railway station.<\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds will finance Hassan Allam Construction\u2019s Bab Misr project<\/p>\n","protected":false},"author":1,"featured_media":664820,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7274],"tags":[7106,88,72,890],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam","tag-hassan-allam-holding","wpautop","entry"],"acf":{"mongo_id":"60597b1d-8088-4436-8610-9ae88aac9df3","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/887.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale","related_issue":[664804],"teaser":"Proceeds will finance Hassan Allam Construction\u2019s Bab Misr project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.2969f93c-e2c9-437f-a08a-9170c117e381.mp3"},"yoast_head":"\nHassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale - 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\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale\" \/>\n<meta property=\"og:description\" content=\"Proceeds will finance Hassan Allam Construction\u2019s Bab Misr project\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/887.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\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale\",\"datePublished\":\"2025-05-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\"},\"wordCount\":239,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/887.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"debt watch\",\"EnterpriseAM\",\"Hassan Allam Holding\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/\",\"name\":\"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale - 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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":545638,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/hassan-allam-properties-takes-out-egp-1-8-bn-loan-for-west-cairo-development\/","url_meta":{"origin":664819,"position":1},"title":"Hassan Allam Properties takes out EGP 1.8 bn loan for West Cairo development","author":"enterpriseam admin","date":"6 April 2022","format":false,"excerpt":"A Hassan Allam Properties subsidiary has secured EGP 1.8 bn in financing from the National Bank of Egypt (NBE) and AAIB to finance its residential project Swan Lake West in Sixth of October, according to a statement (pdf).The project: The financing is set to accelerate construction at Swan Lake West,\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\/2022\/4\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563414,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/30\/hassan-allam-properties-unit-borrows-egp-4-16-bn-for-swan-lake-project\/","url_meta":{"origin":664819,"position":2},"title":"Hassan Allam Properties unit borrows EGP 4.16 bn for Swan Lake project","author":"enterpriseam admin","date":"30 June 2021","format":false,"excerpt":"Al Alamia For Real Estate Investment, a unit of Hassan Allam Properties, has signed an EGP 4.16 bn financing agreement with a syndicate of local banks for the development of its Swan Lake Residences project in New Cairo, Hapi Journal reported. The Arab African International Bank (AAIB) and Banque Misr\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":563872,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/contact-makes-first-sukuk-sale-this-year\/","url_meta":{"origin":664819,"position":3},"title":"Contact makes first sukuk sale this year","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Contact closes its second EGP 2.5 bn sukuk offering: Contact Financial Holding, formerly Sarwa Capital Holding, has closed its second sukuk issuance worth EGP 2.5 bn, the company said in a statement (pdf). 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":574731,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/whos-in-the-market-for-debt-hassan-allam-ezz-steel-gasco\/","url_meta":{"origin":664819,"position":4},"title":"Who\u2019s in the market for debt: Hassan Allam, Ezz Steel, GASCO","author":"enterpriseam admin","date":"20 September 2020","format":false,"excerpt":"Hassan Allam Properties is seeking to obtain a EGP 1.6 bn loan to finance various real estate projects under development, Al Shorouk reports, citing unnamed sources familiar with the matter. The National Bank of Egypt has presented the company with a financing offer for the loan, the report adds. Ezz\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"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":664819,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664819","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=664819"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664819\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664820"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664819"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664819"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}