Wednesday, 24 July 2019 04:08 GMT
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Egypt: Zizinia El Mostakbal to receive EGP568mln loan




(MENAFN) A consortium of four banks including the National Bank of Egypt (NBE), Suez Canal Bank, and Egyptian Arab Land Bank has made an agreement of a mutual loan in favor of ARDIC for Real Estate Development and Investments to finance the Zizinia El Mostakbal project, Amwal AlGhad reported.

The total value of the fund is 568 million Egyptian pounds on a repayment period of four years.

The National Bank of Egypt (NBE) is the financing agent with share of 268 million Egyptian pounds while the other two banks share is 100 million pounds each.

Zizinia El-Mostkabal is to be built over 70.46 feddans, to include about 1,807 housing units in Future City, New Cairo.

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Egypt: Zizinia El Mostakbal to receive EGP568mln loan

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