Arab Finance: QNB Egypt, a subsidiary of QNB Group, has signed a medium?term financing agreement valued at EGP 5.5 billion with MARAKEZ, one of Egypt’s largest mixed-use developers, according to an emailed press release.

The financing will support part of the investment costs related to the residential and commercial expansion of MARAKEZ’s mixed-use flagship destination District 5 project, spanning 268 acres.

District 5 is located in East Cairo and offers integrated residential communities, commercial spaces, and a wide range of lifestyle experiences.

 This agreement aligns with QNB Egypt’s strategy to support large-scale developments and advance the real estate sector, in line with Egypt’s national agenda to expand new urban communities and drive sustainable economic growth.

The signing was penned by Mohamed Bedeir, CEO of QNB Egypt, and Ahmed Demerdash Badrawi, Executive Vice Chairman of MARAKEZ, in the presence of senior representatives from both sides, including Mohamed Khairat, Assistant CEO and Chief Business Officer at QNB Egypt, Osama Ezzo, CFO of MARAKEZ, among others.

Commenting on the agreement, Bedeir said: “This partnership underscores QNB Egypt’s commitment to empowering leading players in the Egyptian market through tailored financing solutions aligned with international best practices. By supporting the delivery of large-scale developments, particularly in the real estate sector, we contribute to accelerating economic activity, creating job opportunities, and value across connected industries.”

For his part, Badrawi remarked: "This financing marks an important milestone for District 5 and our wider portfolio. It enhances our capital efficiency, accelerates project timelines, and reinforces our focus on delivering high-quality mixed-use developments that are ahead of schedule."