Arab Finance: Tatweer Misr inked a medium-term facility contract worth EGP 3.5 billion with the Arab African International Bank (AAIB) to push the construction pace of IL Monte Galala in Ain Sokhna, and Bloomfields in Mostakbal City, as per an emailed statement on November 7^th.

Under the agreement, the AAIB will market finance to multiple Egyptian banks, acting as a first principal and serving as lead arranger, coverage guarantor, facilitation agent, and guarantee agent.

Matouk Bassiouny & Hennawy acts as legal counsel for AAIB and Sarie El-Din and Partners serves Tatweer Misr.

"We also seek to accelerate the pace of construction works within our projects and operate our non-residential portfolio that ensures the creation of a vibrant lifestyle within the real estate projects in addition to recurring income to developers” President & CEO of Tatweer Misr Ahmed Shalaby stated.

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