Banque Misr and the National Bank of Egypt launched the "Wesal City" project, 30 Km Cairo-Suez Road, owned by both banks. "Founders", a subsidiary of Hyde Park Development, in an alliance with Al-Ahly Sabbour announced the beginning of the sales operations of the first phase of the new real estate project with a 10% down payment and installments up to 10 years.

Mohamed El-Etreby, Banque Misr chairman, praised the effective cooperation between the two banks that led to the launch of the project. El-Etreby stressed that Banque Misr’s participation in real estate projects is a continuation of its pioneering role in supporting the economy and the vital role the Egyptian banking sector is playing in supporting the national economy. Real estate sector is among the most important sectors affecting the Egyptian economy affecting the development of all the other economic sectors in an integrated ecosystem as well as the implementation of sustainable development plans through creating integrated and distinctive urban communities. The Bank believes in the importance of concerted efforts in supporting the state's plans for sustainable development to create a better life for the Egyptian citizen, by financing real estate developers or through the Central Bank’s initiative to support low- and middle-income individuals. That is in addition to the various financing programs for housing units to serve the different needs of individuals in the governorates or the new urban communities to reduce overpopulation.

Hisham Okasha, National Bank of Egypt Chairman, stated that the Wesal City project is a part of the real estate sector projects supported by the bank following its strategy to support major projects and economic sectors as its positive results are reflected on the national economy. The real estate sector is linked to a wide range of industries and activities to serve the development plans in a more practical way with the role adopted by the National Bank of Egypt. Okasha praised the fruitful cooperation between the National Bank of Egypt and Banque Misr in launching the project, as well as the vital role of the Egyptian banking sector in general to provide multiple financing methods for housing units through mortgage loans, in both the governorates and the new urban communities to limit the overpopulation and implement the state’s plans “Egypt Vision 2030” through establishing new fully equiped urban communities as well as providing adequate housing for all citizens. Okasha pointed out that “Wesal” project is an integrated community in an excellent location with a comprehensive concept, including housing units in different sizes to suite all needs. The project provides various services, including a social and sports club, shopping malls and entertainment.

Eng. Ahmed Sabbour, Al Ahly Sabbour for Real Estate Development Chairman, added that the marketing of the “Wesal” project at this stage represents an opportunity for mobilizing the real estate market, as the project is one of the largest real estate projects in the Egyptian market that will be launched on several phases. Eng. Sabbour stresses that the alliance of Al-Ahly Sabbour with Founders proved a great success with its first project, motivating us all to engage in another huge project such as the city of Wesal. The project is a full package that would attract buyers such as the distinguished location, good infrastructure, buildings equipped with the latest facilities, in addition to attractive flexible payment plans, securing a successful and suitable purchasing process.

Engineer Amin Serag, Managing Director of Hyde Park Real Estate Development, said that the Wesal project is one of the most important real estate projects that will shine in the Egyptian real estate market, due to the many attractive points. "Wesal" is a complete city with integrated services and facilities where all units are fully finished and ready for immediate housing with green areas, parking, along with all commercial and entertainment services, clubs and places of worship in addition to the administrative area, which is one of the largest administrative areas in east Cairo. The project is quite unique in the real estate market with a large investment return while providing flexible payment systems, enabling the customer to pay 10% and receive fully finished units with all the services needed. The rest of the payment would be through installment plans up to 10 years to reduce the financial burden on customers. The project is supporting the state's current direction towards creating new and integrated communities while upgrading the level of the services for the citizens, especially since the project addresses a large segment of Egyptian community and the youth who are about to get married.

It is worth noting that the Wesal City project is built on 800 acres and offers about 10,000 fully finished units and facilities, ready for immediate housing. The city of Wesal is divided into three separate main sections, two housing projects with security provided in the form of fences and security while the third section is commercial. The first residential compound, Wesal Views, includes various units from villas to twin houses, townhouses, as well as duplexes and apartments of different sizes. The other residential compound, Wessal Residences, includes apartments of various sizes, starting from 160 square meters. As for the commercial area, it includes a restaurant complex, cinemas, nurseries, places of worship (2 large mosques and a church), administrative offices, and a private gym.