EGP 7 Billion Value... Banking Consortium of Five Banks Grants Joint Financing to Sky Anuvo for Land Acquisition and Division to Fund the Park St. Edition Project in New Cairo's Golden Square

A banking consortium including Banque Misr, in its capacity as the Initial Principal Arranger, Marketing Agent, Facility Agent, Account Bank, and Lender, and the National Bank of Egypt (NBE), in its capacity as the Initial Principal Arranger, Marketing Agent, Security Agent, Documentation Bank, Equity Account Bank, and Lender, along with Abu Dhabi Commercial Bank – Egypt (ADCB – Egypt) as the Technical Bank – Lender, Al Baraka Bank – Egypt as a Lender, and Next Bank as a Lender, successfully concluded a long-term syndicated loan agreement with Sky Anuvo for Land Acquisition and Division for a maximum period of seven years and nine months, valued at EGP 7 billion. This financing will cover a portion of the investment cost of the “Park St. Edition” project in New Cairo's Golden Square, which amounts to approximately EGP 16.05 billion.

The financing agreement was signed on Wednesday, October 8, 2025. Signatories included Mr. Hisham Okasha - CEO of Banque Misr, Mr. Mohamed El Etreby - CEO of the National Bank of Egypt, Mr. Hisham Abbas - Head of Financial Institutions and Corporate Finance at Abu Dhabi Commercial Bank – Egypt, Mr. Hazem Hegazy - CEO and Vice Chairman of Al Baraka Bank – Egypt, and Mr. Tamer Seif El Din - CEO and Managing Director of Next Bank, along with Mr. Ayman Hussein - Founder of Sky Investments and Real Estate Asset Management, a subsidiary of Sky Group for Ownership and Project Management. A distinguished group of leaders from the participating banks and the company attended the signing.

The “Park St. Edition” project is an integrated development combining sustainability, wellness, and innovation within a fully integrated residential, commercial, and administrative complex, located in the New Cairo area. Sky Anuvo for Land Acquisition and Division will undertake its development.

Mr. Hisham Okasha – CEO of Banque Misr – stated that the bank’s participation in this financing is a continuation of its pioneering role in supporting major projects that have a direct impact on the Egyptian economy, aligning with Egypt's Vision 2030 and the state's urban development plans. He stressed that the real estate sector is one of the most important strategic sectors, reflecting on many other economic activities and providing direct and indirect job opportunities. He noted that Banque Misr is keen to finance these types of vital investments, practically serving sustainable development plans.

Mr. Hisham Okasha also highlighted Banque Misr's continuous commitment to providing integrated financing solutions for both individuals and real estate developers, meeting market needs and supporting the growth of new urban communities to alleviate population congestion.

Following the signing, Mr. Mohamed El Etreby stated that the bank's participation in the financing is an extension of its strategic role in supporting vital sectors and projects that represent a fundamental pillar for economic growth and achieving sustainable development, foremost among them the real estate development sector. This sector plays a direct role in stimulating economic activity and creating new job opportunities through complementary industries, in addition to contributing to meeting the growing demand for residential units in one of the most important new urban areas. He added that the National Bank of Egypt gives special attention to supporting projects that contribute to increasing investments in infrastructure and integrated services, asserting that the bank's strategy is based on enhancing its developmental role in financing sectors that create real added value for the national economy and support the state's goals in achieving balanced growth and improving the standard of living for citizens.

Eng. Ayman Hussein - Founder of Sky Investments and Real Estate Asset Management, a subsidiary of Sky Group for Ownership and Project Management and a main shareholder in Sky Anuvo for Land Acquisition and Division – commented on this important step, saying: “This consortium reflects the great confidence the banking sector places in the Park St. Edition project, the first project of Sky Anuvo for Land Acquisition and Division. We are committed to continuing to launch strong projects with added value, combining high quality, sustainability, wellness, and innovation, thereby contributing to supporting the national economy and raising the standards of real estate development in Egypt.”

He added that the project's implementation plan was launched last year, and during this period, the company managed to achieve sales exceeding 60%, noting that the goal is to reach EGP 23 billion in sales by the end of the project, reflecting the strong demand and increasing customer confidence in the project and its innovative vision.

Mr. Kareem Kamel - CFO of the Company – stated, "This consortium is clear evidence of the company's strong financial position. We are keen to establish a balanced financial plan that achieves efficiency in resource management and maximizes returns for both investors and customers. We also focus on providing flexible financing solutions that allow a wider segment of target customers the opportunity for ownership."

Mr. Ehab El Sawirky - Managing Director and CEO of Abu Dhabi Commercial Bank – Egypt – stated that ADCB – Egypt’s participation in this financing stems from the bank's continuous commitment to supporting and developing the real estate sector, one of the most vital sectors in the Egyptian economy, and contributing to driving sustainable development. He added that the project represents an excellent model for effective partnership between banking institutions and the real estate sector, as the bank aims through this participation to enable real estate developers to implement high-quality projects that contribute to improving the standard of living and providing integrated urban communities.

He affirmed that ADCB – Egypt prioritizes supporting the state's plans for urban expansion and strengthening infrastructure by providing innovative financing solutions that meet the needs of the real estate market across its various segments, thus achieving sustainable growth for the national economy.

Commenting on this cooperation, Mr. Hazem Hegazy - CEO and Vice Chairman of Al Baraka Bank – Egypt, said: "Al Baraka Bank – Egypt’s participation in this syndicated loan with a share of EGP 1 billion is an extension of the bank's efforts to provide strategic financing solutions that contribute to supporting major investment projects. The Park St. Edition project by Sky Anuvo for Land Acquisition and Division in New Cairo is an example of this, as it is a mixed-use project. Through this participation, the bank continues its commitment to supporting the real estate development sector and enhancing investments that contribute to driving economic growth."

Mr. Tamer Seif El Din - CEO and Managing Director of Next Bank, emphasized that the bank's participation in this consortium reflects its vision in supporting distinctive projects, among which is the construction of one of the most prestigious integrated residential and commercial complexes based on combining excellent design, integrated services, and a strategic location that makes it an effective addition to the urban development map in Egypt.

He pointed out that the real estate sector is one of the main drivers of economic growth, plays a pivotal role in providing promising investment opportunities, and constitutes a fundamental pillar for enhancing development and accelerating growth. From this standpoint, Next Bank is keen to strengthen its presence in this sector through strategic partnerships and the financing of high-quality real estate projects.

The banks participating in the financing believe in the necessity of concerted efforts to support the state's plans for the advancement of the national economy, and are keen to play their vital role in supporting all activities that positively reflect on sustainable development plans.