QNB – Egypt has signed a medium-term financing agreement in favor of Marakez for Urban Development, with a total value of up to EGP 5.5 billion, to support the investment costs of residential and commercial expansions in the District 5 project, spanning 268 feddans.

The project is considered one of the integrated real estate destinations in East Cairo, offering a comprehensive model that combines residential living, services, and diverse lifestyle experiences.

This financing comes within the framework of QNB Alahli’s strategy to support the real estate development sector and major projects that contribute to achieving sustainable urban development, in line with the state’s direction toward expanding new cities.

The financing agreement was signed by Mohamed Bedeir, CEO of QNB Alahli, and Ahmed Damarawy Badrawi, Vice Chairman of Marakez, in the presence of representatives from both the bank and the company.

Mohamed Bedeir, CEO of QNB -Egypt, said:

“This step reflects the bank’s commitment to supporting leading economic entities in the Egyptian market by providing innovative financing solutions aligned with best practices, to contribute to accelerating the implementation of major projects, particularly in the real estate development sector as one of the main drivers of economic growth and job creation.”

Ahmed Damarawy Badrawi, Vice Chairman of Marakez for Urban Development, stated:

“This agreement comes as part of Marakez’s strategy to enhance its investments in mixed-use developments, foremost among them District 5, which we see as an integrated model for modern urban development”.

” This financing gives us a strong push to accelerate execution, expansion, and delivery ahead of schedule.”

District 5 is one of the mixed-use projects developed by Marakez, representing an integrated community that offers all essential services and recreational facilities.

The project is located in East Cairo, just minutes away from the business district, the American University in Cairo, and 90 Street, and is 20 minutes from Cairo International Airport.

The project includes a state-of-the-art administrative area, a residential zone, and the “D5M” shopping mall, which features a number of local and international brands across retail, sports, fashion, and food and beverage sectors.

About QNB

QNB Alahli is a subsidiary of QNB Group. The bank’s vision focuses on strengthening its position as the preferred banking choice for customers in the Egyptian market, thanks to the world-class financial services and high-quality service it provides to corporate and individual clients, while remaining committed to its social responsibility toward achieving sustainable development and maximizing returns for its shareholders.

The bank serves more than 1,961,694 customers, supported by over 7,680 specialized bankers through a network of branches covering all governorates of Egypt. Its network includes more than 238 branches, 920 ATMs, and over 38,960 points of sale to serve customers, in addition to a contact center operating 24/7.

About Marakez

Marakez is one of the largest mixed-use developers in Egypt, with a portfolio of projects characterized by some of the highest recurring operating revenues in the market.

Mall of Arabia in West Cairo represents the group’s main starting point. Marakez’s projects include AEON, its first residential project featuring towers in 6th of October City and new urban communities, in addition to District 5, its largest mixed-use development in East Cairo.

The company’s portfolio also includes Tanta Mall, which opened in 2019, Town Center, which opened in 2020, and Mansoura Mall.