Arab Finance: A banking consortium led by Banque Misr has signed a long-term syndicated loan agreement worth EGP 6.2 billion with Mountain View, according to a press release.

The alliance included QNB Egypt, the Industrial Development Bank (IDB), the United Bank, EG Bank, and Al Baraka Bank, all as lenders, with Banque Misr acting as the financing agent, security agent, and account bank.

The seven-year loan will partially finance the investment costs of Mountain View’s real estate project in East Cairo, estimated at a total value of EGP 14.4 billion.

The grant anchors Mountain View’s position among Egypt’s leading real estate developers, delivering more than 20 integrated projects across East and West Cairo, as well as along the Red Sea and Mediterranean coasts.

Hesham Okasha, CEO of Banque Misr, said the joint facility is part of the bank’s objectives to support the Egyptian economy in line with the state's urban development plan within Vision 2030.

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