Cairo – Mubasher: Al Tawfeek for Financial Lease (AT Lease) has said on Monday that it is considering to arrange an EGP 1.2 billion financing for one of the real estate firm in Egypt.
The financing consists of EGP 200 million for AT Lease and another leasing firm each, in addition to managing an EGP 800 million financing from one of the banks, the company highlighted in a statement to the Egyptian Exchange.
The company indicated that the financing could be reimbursed in up to seven years.
In July, AT Lease revealed it was looking to generate around EGP 70 million in net profit by the end of this year.
The Egyptian firm also projected sealing EGP 638 million leasing contracts at the end of June, in addition to EGP 1.5 billion under-study contracts.
Moreover, AT Lease aims to seal new financial lease contracts worth EGP 1.2 billion in 2018.