By: Abdallah Bedeir
Cairo – Mubasher: First Group for Real Estate Investment has borrowed around EGP 235 million from three banks to finance Kazan Plaza Mall and Kenz Complex in the 6th of October city, the group’s chairman said on Monday.
The Egyptian property developer has obtained EGP 120 million, EGP 80 million, and EGP 35 million in financings from Al Ahli United Bank, Al Baraka Bank, and BLOM Bank, respectively, Bashir Mustafa told Mubasher.
Mustafa pointed out that the company will finance the rest of the projects.
Kazan Mall is being built behind Mall of Arabia over 12,000 metres and is comprised of four buildings, he highlighted.
Meanwhile, Kenz complex is being established over 30,000 acres in the 6th of October city, he added.
Translated by: Mai Ezz El-Din
