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Prime Minister Mostafa Madbouly witnessed the signing of financing agreements worth EGP 10 billion between Banque Misr and Founders Real Estate Marketing, a subsidiary of Hyde Park Developments, at the government headquarters in the New Administrative Capital. The facility, which carries a tenor of up to eight years, will fund the purchase and marketing of assets owned by the New Urban Communities Authority along with associated operating costs. Daily News Egypt reported that the deal was attended by Housing Minister Randa El Menshawy, Deputy Minister Waleed Abbas, NUCA Real Estate Sector Supervisor Ahmed Emara, Banque Misr CEO Hisham Okasha and senior executives from the participating entities. The agreements were executed by Yehia Aboul Fotouh as chairperson of Hyde Park Developments and vice chairperson of Founders Real Estate Marketing, Amin Serag as chairperson of Founders Real Estate Marketing and managing director of Hyde Park Developments, and Amr El Demerdash as head of corporate credit and syndicated loans at Banque Misr.
El Menshawy stated that the agreement reflected the banking sector’s confidence in real estate development and the opportunities it offers. She noted that the projects formed part of the state’s efforts to provide housing that meets citizens’ diverse needs and promote integrated urban development, particularly in areas requiring further development and improvement. The minister added that supplying housing for middle-income citizens remains a government priority under broader urban expansion initiatives.
Hisham Okasha highlighted the real estate sector’s contribution to stimulating associated industries, attracting investments and generating both direct and indirect employment. The Banque Misr CEO reaffirmed the bank’s commitment to supporting integrated residential, commercial and administrative projects that advance Egypt Vision 2030 and drive economic activity. According to coverage by Invest-Gate, Okasha positioned the financing as part of the lender’s ongoing strategy to back vital sectors aligned with national development objectives.
Amin Serag described the facility as evidence of the long-standing strategic partnership and mutual trust between the companies and Banque Misr. The chairperson of Founders Real Estate Marketing and managing director of Hyde Park Developments said the long-term financing would bolster expansion plans by diversifying funding sources and enhancing financial capacity for project execution. Serag emphasised that such solutions enable accelerated development while maintaining sustainable growth trajectories for both entities.
The transaction aligns with Egypt’s continued focus on urban development under Vision 2030, a framework that seeks to create integrated communities and address housing demand across income segments. The New Urban Communities Authority has released assets for such initiatives as part of efforts to expand new cities and stimulate related economic sectors. Industry assessments indicate the real estate field continues to serve as a significant contributor to GDP growth and job creation throughout the Egyptian economy.
Baker McKenzie said in a statement that its Cairo office advised Banque Misr on the legal elements of the financing arrangement. The firm’s team supported the bank throughout the structuring of the real estate transaction. This involvement reflects the use of specialised legal expertise in facilitating large-scale deals within Egypt’s financial and property markets.
