Banque Misr has led a four-bank consortium to arrange an additional EGP 4 billion syndicated loan for Ora Developers Egypt. This new funding brings the total financing for the Zed Sheikh Zayed project to EGP 9 billion. The money will cover a portion of the remaining construction costs for the 165-acre integrated urban development in West Cairo.

The consortium includes Banque Misr as the initial lead arranger, underwriter, facility agent, security agent and account bank. Emirates NBD Egypt, Housing and Development Bank and Export Development Bank of Egypt acted as lead arrangers and underwriters. This additional sum follows an original EGP 5 billion previously granted to finance specific phases of the project.

Senior figures attended the signing ceremony, including Banque Misr CEO Hisham Okasha and Housing and Development Bank CEO Yehia Aboul Fotouh. Emirates NBD Egypt CEO Amr El Shafei, Export Development Bank of Egypt Vice Chairman Mohamed Shawky and Sawiris Group Chairman Naguib Sawiris were also present.

Hisham Okasha said: “Banque Misr’s leadership of this banking consortium to arrange the additional syndicated financing for Ora Developers Egypt stems from the bank’s commitment to supporting major projects with economic and developmental viability, particularly in the real estate sector, a key driver of economic growth. This support is provided through contributing to the necessary financing for major projects that drive development, boost investments, and achieve the state’s economic development goals.”

Naguib Sawiris expressed pride in the 25-year partnership with Banque Misr. He noted: “Increasing the value of the syndicated financing for the Zed Sheikh Zayed project reflects confidence in the strength of the Egyptian market and the promising growth opportunities it offers. It also confirms the importance of cooperation between the financial and real estate sectors in supporting major development projects. We view this step as more than just financing, but rather a strategic partnership that contributes to creating sustainable economic and urban value.”

Haitham Abdel Azim, CEO of Ora Developers Egypt, explained that the increase will accelerate the remaining phases. The project serves as a modern urban model, incorporating residential, commercial, administrative, service and recreational units alongside green spaces.

Yahya Aboul Fotouh stated that syndicated loans show the strength of the banking sector. Amr El-Shafei added that the deal extends a long-term partnership built on mutual trust. Ahmed Galal, Chairman of the Export Development Bank of Egypt, concluded that the success of the alliance reflects strong cooperation among national financial institutions.