Banque du Caire Leads EGP 3.2 Billion Banking Consortium Financing for UBL Project in Fifth Settlement
Banque du Caire has led a four-bank consortium to arrange an EGP 3.2 billion medium-term syndicated loan for UBL North and UBL South, subsidiaries of Al Tameer Engineering Consultancy Group. The financing will partially cover the investment cost of the UBL project in the Fifth Settlement, New Cairo.
The consortium includes Banque du Caire, acting as the Initial Mandated Lead Arranger (IMLA), Facility Agent, Security Agent and Account Bank, alongside Abu Dhabi Commercial Bank – Egypt (ADCB Egypt), Al Baraka Bank Egypt and Industrial Development Bank (IDB). Banque du Caire's share of the facility amounts to EGP 1.33 billion.
Banque du Caire Highlights Its Corporate Financing Capabilities
Hussein Abaza, Managing Director and CEO of Banque du Caire, said the bank's leadership of the consortium demonstrates its capabilities in structuring and managing major financing transactions and reinforces its position as a strategic banking partner to the corporate sector.
He noted that the bank continues to expand its role in financing key sectors of the Egyptian economy, particularly real estate development, which plays an important role in attracting investment, stimulating economic activity and creating jobs.
Abaza added that the bank's appointment as Initial Mandated Lead Arranger, Facility Agent, Security Agent and Account Bank reflects the breadth of its banking expertise and its ability to lead syndicated financing arrangements and coordinate participating institutions. These capabilities, he said, help support investment project implementation and contribute to financing economic growth.
Bahaa El Shafei, Deputy CEO of Banque du Caire, said the transaction is aligned with the bank's strategy to expand its role in arranging and managing large-scale financing deals and delivering integrated solutions that address companies' investment requirements across different sectors.
He described real estate development as a key sector with extensive links to other economic activities, particularly construction, building materials and services, making it an important driver of investment and economic growth.
El Shafei added that Banque du Caire's EGP 1.33 billion contribution, together with its leading responsibilities in the financing structure, reflects its expertise in arranging syndicated loans, managing large credit facilities and building banking partnerships that support corporate expansion and investment plans.
Consortium Banks Emphasize Support for Major Investment Projects
Ehab El-Sewerky, Managing Director and CEO of ADCB Egypt, said the bank's participation reaffirms its commitment to supporting major investment projects that strengthen economic activity and broaden Egypt's investment base.
He highlighted the importance of real estate development in stimulating related economic activities and supporting urban development plans. He also noted that projects combining administrative and commercial uses provide an environment that encourages business growth and attracts additional investment.
El-Sewerky said syndicated financing enables banks to pool their financing capabilities and make substantial funding available for major projects. This mechanism supports clients' expansion plans, aligns with ADCB Egypt's strategy to grow its financing portfolio and contributes to the state's urban development objectives and the national economy.
Hazem Hegazy, Vice Chairman and CEO of Al Baraka Bank Egypt, said the bank's EGP 590 million contribution to the syndicated facility for UBL North and UBL South is consistent with its strategy to diversify its financing portfolio and strengthen its position as a strategic partner in major financing transactions.
He explained that the financing will support the development and construction of an integrated commercial and administrative complex in the Fifth Settlement. Hegazy also reaffirmed the bank's commitment to working with major banking institutions to support expansion in real estate development and promote sustainable economic growth and a more attractive investment environment in Egypt.
Hussein Refai, CEO and Managing Director of Industrial Development Bank, said the bank's participation reflects its commitment to supporting major investment projects and providing integrated financing solutions that meet companies' needs and facilitate their expansion plans.
He added that the transaction demonstrates the value of cooperation among banks in arranging and extending syndicated facilities. Such partnerships strengthen the banking sector's ability to finance projects with significant economic value and support investment in key sectors, particularly real estate, which is closely connected to numerous economic activities and contributes to growth and job creation.
Refai stressed that IDB will continue expanding its financing across different economic activities and strengthening its banking partnerships in support of Egypt's sustainable economic development.
Al Tameer Says Financing Reflects Banks' Confidence in Its Track Record
Saad Al Wazzan, Chairman of Al Tameer Engineering Consultancy Group, said the company takes pride in its history of more than 70 years and its extensive portfolio of real estate, tourism and hospitality projects.
He stated that the financing reflects banks' confidence in Al Tameer's established position in the Egyptian market and its ability to continue implementing investment projects in line with its long-term vision.
Al Wazzan added that the company regards this confidence as a responsibility, which it aims to translate into tangible results by maintaining the highest standards of quality and efficiency in project execution and strengthening its partnerships with financial and banking institutions. These efforts, he said, will support its growth and expansion plans and create sustainable value for clients and partners.
Walei Dolaty, Vice Chairman of Al Tameer Engineering Consultancy Group, said the significance of the EGP 3.2 billion facility goes beyond its financial value, representing a vote of confidence from four major banks in the company's financial position, longstanding real estate development experience and ability to execute projects and meet its obligations.
He noted that this confidence is particularly significant amid challenges facing the real estate sector and increasingly selective bank credit standards. Access to financing, he explained, is no longer determined solely by the size of a company's assets or projects, but also by its financial strength, management efficiency, execution record and ability to meet financial commitments.
Dolaty said Al Tameer has worked to establish these credentials throughout its more than 70-year history, building a strong reputation in Egypt's real estate market through its commitment to delivery schedules, including handing over some projects ahead of schedule while maintaining the quality standards and specifications set out in sales contracts.
He added that the financing further confirms the company's standing with banking institutions and their confidence in its investment vision and the economic feasibility of the UBL project.
Dolaty concluded that this confidence places an additional responsibility on the company to maintain high standards of efficiency and corporate governance, build on its decades of experience, strengthen its growth and expansion capabilities, and deliver sustainable value to clients and partners.
