United Bank Contributes EGP 600M To Syndicated Loan Worth EGP 6.2Bn For Mountain View Project

2025-08-09 02:02:22

(MENAFN- Daily News Egypt) United Bank has participated with EGP 600m in a syndicated long-term loan worth EGP 6.2bn, arranged by a consortium of six banks led by Banque Misr, to finance part of the Mountain View 1.1 project's EGP 14.4bn investment cost. The facility has a maximum tenor of seven years.

CEO Ashraf El Kady said the bank's participation reflects its commitment to supporting the state's development strategy and contributing to sustainable, integrated infrastructure projects that enhance citizens' quality of life. He highlighted the construction sector's vital role in driving economic growth and GDP expansion, noting that bank financing for such projects helps stimulate investment and create jobs.

El Kady also stressed the importance of directing investment to promote balanced geographic and demographic development, easing population pressure on the Nile Valley and Delta, while supporting housing supply for various income segments-particularly middle-income and social housing-thereby fostering social stability.

Deputy Managing Director for Business Sectors Nevine Kashmiry said United Bank is a major supporter of Egypt's construction sector, given its central role in development. She noted that the country's urban expansion under the“New Republic” includes the New Administrative Capital and 12 new smart cities such as New Alexandria, New Assiut, New Suez, and New Alamein.

Deputy CEO Farag Abdel Hamid described the participation as a reflection of the bank's national role in shaping Egypt's future under Vision 2030, while Deputy CEO Moataz El Kassaby stressed the bank's preference for partnering with developers committed to quality and sustainability standards to maximise economic and social returns.

Albir Nasan, Head of Syndicated Loans, said United Bank's involvement in financing real estate projects aligns with its longstanding role in supporting the Egyptian economy and the state's urban development goals under Vision 2030.

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