Arab Finance: Banque du Caire is leading a four-bank consortium in arranging an EGP 3.2 billion medium-term syndicated loan for the Urban Business Lane (UBL) project in New Cairo’s Fifth Settlement, as per an emailed press release.

The financing will cover part of the project’s investment costs and is being provided to UBL North and UBL South, subsidiaries of Egypt-based real estate developer Tameer.

Banque du Caire is contributing EGP 1.33 billion and serving as the initial mandated lead arranger, facility agent, security agent, and account bank.

Hussein Abaza, Managing Director and CEO of Banque du Caire, said leading the consortium reflects the bank’s ability to structure and manage large financing transactions. He added that the bank continues to finance real estate development because of the sector’s role in attracting investment, supporting economic activity and creating jobs.

The consortium also includes Abu Dhabi Commercial Bank Egypt (ADIB Egypt), Al Baraka Bank Egypt, and the Industrial Development Bank (IDB).

Al Baraka Bank Egypt’s share amounts to EGP 590 million, according to its Vice Chairman and CEO, Hazem Hegazy. He said the financing supports the development of an integrated commercial and administrative complex and aligns with the bank’s plans to diversify its financing portfolio and strengthen partnerships with other banks.

For Tameer Chairman Saad Alwazzan, the financing reflects lenders’ confidence in the company’s position in Egypt and its ability to execute investment projects over the long term. He said Tameer, whose history spans more than 70 years of real estate, tourism, and hospitality projects, plans to maintain its focus on quality and efficiency while strengthening its financial partnerships to support growth.

Spanning approximately 55,000 square meters, UBL comprises 10 administrative buildings and a commercial zone. It forms part of UrbanWalk, a mixed-use development planned to combine commercial, administrative, hospitality, residential, and leisure components.