Banque Misr signed a long-term loan contract worth 750 million Egyptian pounds with Mountain View Development and Real Estate Investment Company to finance a portion of the investment cost for the 'Mountain View 4' project (Mountain View Park Avenue). The contract was signed on Sunday, November 6, 2022. Mr. Mohamed El Etreby, Chairman of Banque Misr's Board of Directors, and Eng. Amr Soliman, Chairman of the Board of Directors of Mountain View Development and Real Estate Investment Company, signed the contract in the presence of Mr. Akef El Maghraby, Vice Chairman of the Board of Directors of Banque Misr, Ms. Ghada Nour, CEO of Investments and Asset Management at Mountain View, Mr. Mohamed Khairat, Head of Credit and Joint Loans Sector at Banque Misr, and a number of bank and company leaders.

The contract signing signifies a fruitful collaboration between Banque Misr and Mountain View Development and Real Estate Investment Company. It involves financing a portion of the investment cost for the Mountain View 4 project (Mountain View Park Avenue) to accelerate the pace of construction in the project. The project is situated in a prime location along the Cairo Ring Road in the Sixth of October City, covering an area of 47 acres, with a total investment cost of EGP 1.1 billion. The company's acquisition of this funding reflects its commitment to the rapid development of its ongoing projects to ensure prompt delivery of units to customers.

Mr. Mohamed Al-Atarbi, Chairman of the Board of Directors of Banque Misr, affirms that Banque Misr's participation in real estate projects is a continuation of its pioneering role in bolstering the Egyptian economy. This is especially important as the real estate sector is among the most influential sectors in the Egyptian economy. Banque Misr contributes to strengthening economic reform plans, particularly in areas of high interest to the banking sector, such as supporting the real estate sector by introducing flexible working methods that align with the nature and requirements of the Egyptian real estate market. This is in line with Banque Misr's credit policy within the framework of the laws and regulations governing the Egyptian real estate market. The development of the real estate market in Egypt reflects positively on all other sectors of the economy, contributing to the implementation of the government's sustainable development plans by establishing integrated urban communities in new cities to alleviate population density.

In this regard, Mr. Amr Suleiman said, 'We are pleased to collaborate with Banque Misr to secure long-term financing for the development of one of our most important projects, which is in high demand in western Cairo. The Mountain View 4 project has achieved exceptional sales since its launch for reservation, thanks to its proximity to highways and main axes, distinctive design of the project and its units, in addition to the availability of integrated services.'

Mr. Amr Suleiman went on to say that Mountain View believes in the lucrative investment opportunities that distinguish to the Egyptian real estate market. Therefore, it is keen on diversifying financing tools to expedite the speedy implementation of ongoing projects and examining new investment opportunities with the aim of contributing to the development of the national economy and providing residential units capable of meeting the market demand.

Banque Misr acknowledges the importance of collaborative efforts to support the government's plans in bolstering the national economy. The bank is committed to fulfilling its vital role in supporting all activities that enhance the quality of life for Egyptian citizens, particularly by offering suitable housing options to alleviate the burden on all segments of society and improve their standard of living. Additionally, the bank strives to deliver accessible and advanced banking and financial services. It works on enhancing the excellence of its services, ensuring its long-term success, and actively participating in services that meet the needs of its customers. The core values and work strategies of the bank always reflect its commitment to sustainable development and prosperity for Egypt.