PARAGON eyes EGP 400M green financing to boost sustainable projects

Updated 1/27/2026 8:37:00 AM

Arab Finance: PARAGON Developments has entered into advanced negotiations with one of Egypt’s banks to secure EGP 400 million in green financing, according to a press release.

This aligns with the group’s strategy to drive sustainable growth and support its current as well as future developments. It also backs Egypt’s shift toward a green economy and sustainable urban development.

The company seeks to obtain financing from the Green Fund through a government-owned bank to create advanced environmental sustainability standards and boost the operational efficiency of its projects.

In parallel, the group’s PARAGON.2 Financial District project in the New Administrative Capital has been awarded LEED Gold certification under the LEED v4 BD+C: Core & Shell rating system, issued by the US Green Building Council (USGBC).

PARAGON.2 achieved 67 points out of a possible 110, qualifying it for the Gold rating, based on its strong performance across key sustainability categories, including energy efficiency, water conservation, urban integration, and indoor environmental quality.

Bedeir Rizk, CEO of PARAGON Developments, commented on the green financing: “This step supports our strategy to integrate sustainability into every aspect of our business and link environmental responsibility with long-term economic value.”

He added: “The LEED Gold certification awarded to PARAGON.2 reflects our commitment to developing workspaces that create real, measurable impact. Sustainability is a core pillar of the value we deliver to our clients and communities.”

Additionally, PARAGON inked a contract for PARAGON 1 to obtain LEED Silver certification, reinforcing the group’s commitment to applying best-in-class sustainability practices across its portfolio in the New Administrative Capital.