Ora Developers inks EGP 2.5bn loan deal with four banks to finance ZED West

Cairo – Mubasher: Ora Developers Egypt signed an eight-year syndicated loan agreement worth EGP 2.5 billion with Banque Misr, Emirates NBD, the Export Development Bank of Egypt (EBE), and the Housing and Development Bank (HDB) to partially finance the development and construction of the first and second phases of ZED West Project.

Naguib Sawiris, Global CEO of Ora Developers Group, said: “Ora Developers aims to constantly develop sustainable, luxurious, and practical neighbourhoods, and I believe that we will remain resilient during these difficult times and achieve this goal of delivering innovative and trustworthy developmental projects to the Egyptian market,” according to a statement on Tuesday.

Ora Developers signed an agreement with Orascom Construction in May for the construction of phase 01A of ZED El-Sheikh Zayed and two partnership agreements with Rowad Modern Engineering and Redcon Construction in September for the construction of phase 01B of the same project.

Mubasher Contribution Time: 02-Dec-2020 10:24 (GMT)
Mubasher Last Update Time: 02-Dec-2020 10:26 (GMT)