The company said, in a statement, that the banking alliance includes Banque Misr as the first main arranger, financing marketer, financing agent, account bank, and intermediary account bank. And the National Bank of Egypt In its capacity as the first main arranger and finance marketer, Cairo Bank in its capacity as the first main arranger and finance marketer and the debt service consumption account bank, Emirates National Bank of Dubai in its capacity as the main arranger and security agent, Abu Dhabi Commercial Bank in its capacity as arranger, Al Baraka Bank in its capacity as arranger, and the National Bank of Kuwait – Egypt in its capacity as arranger. And the Industrial Development Bank, as a lender, with the aim of partially financing the investment cost of the “Badia” urban project in New October City.
The office of Helmy, Hamza and their partners (members of the law firm Baker & McKenzie International) acted as the legal advisor to the banks, and the office of Matouk Bassiouni acted as the legal advisor to Palm Hills.
And project “Badia“Located on an area of approximately 3,000 acres, the project aims to create a new integrated and multi-use community that provides a diversity of residential units, commercial, administrative and recreational services, in addition to educational, sports and social facilities, and central parks.
It is mentioned that Palm Hills Last August, it announced that its new sales had tripled by August 20, exceeding 110 billion pounds, compared to 28 billion pounds in the same period of the previous year.
