Helmy, Hamza & Partners, Baker McKenzie Advised Banque Misr On Financing For Landmark Developments

Helmy, Hamza & Partners, Baker McKenzie Advised Banque Misr on Financing forLandmark Developments

Helmy, Hamza & Partners, Baker McKenzie Cairo office, acted as legal counsel to Banque Misr in connection with a significant real estate financing transaction. The financing, valued at EGP 2.8 billion, was signed on November 19, 2024, for Landmark Developments (LDM), a leading real estate developer in Egypt owned by Engineer Ahmed Sabbour.

Banque Misr, alongside EG Bank and Suez Canal Bank, entered into a loan agreement specifically to fund the development of a fully serviced residential project named 'STEI8HT,' located in New Cairo City, covering an area of approximately 375 acres.

The financing is structured as a long-term syndicated facility designed to cover development costs and other project-related expenses. This transaction underscores the continued growth and investment in Egypt's real estate sector, demonstrating the confidence financial institutions have in the country's market potential.

Commenting on the transaction, Mostafa Lotayef, Counsel at Helmy, Hamza & Partners, who led the Baker McKenzie Cairo team on the matter, stated: "We are proud to have assisted Banque Misr in this significant transaction, which will contribute to the development of a major residential project in New Cairo. This deal underscores our commitment to providing top-tier services in the real estate financing sector."

Helmy, Hamza & Partners and Baker McKenzie advised Banque Misr on an EGP 2.8 billion financing for Landmark Developments' 'STEI8HT' residential project in New Cairo City, highlighting continued growth in Egypt’s real estate sector.