EFG Hermes E signs EGP 750 million sale-leaseback and sale-leaseback agreement with Madinet Nasr for housing and development

EFG Hermes signs EGP 750 million sale and leaseback agreement with Madinet Nasr for housing and development

Cairo, December 26, 2021

EFG Hermes, Egypt’s premier universal bank and leading Emerging Frontier Markets (EMF) investment banking franchise, today announced that it has successfully signed a $ 750 million sale and leaseback agreement. EGP with the real estate development company Madinet Nasr for housing and development (MNHD). The Investment Banking division of EFG Hermes acted as financial advisor for the transaction, which will also include some securitization issues as follow-up transactions, while EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt’s leading leasing and factoring companies, acted as lender.

“We are proud to strengthen our partnership with the new management of MNHD, as the company is a pioneer in the real estate market,” said Maged El Ayouti, Managing Director and Deputy Director of Investment Banking at EFG Hermes. “We are extremely pleased with the progress we are making in the real estate market, as this transaction is a building block of our strategy to form lucrative partnerships in key sectors, sell our products and services to our partners and help businesses to meet their ever-growing financing needs.

MNHD is one of Egypt’s leading urban real estate developers. The company has initiated and successfully completed a number of key development projects, including the majority of the Nasr City district in the Greater Cairo area, which covers over 40 million m² and is home to over 3 million people. MNHD’s land reserve includes Taj City, a 3.5 million m² project in a prime location opposite Cairo International Airport and SARAI, a 5.5 million m² project in a strategic location on the road de Suez next to the new capital.

“This transaction is an integral part of MNHD’s new leadership strategy to expand its operational footprint, as the company continues to develop high quality housing projects across the country,” said Abdallah Sallam, CEO of Madinet Nasr for housing and development. “Our continued partnership with EFG Hermes allows us to raise and deploy capital more efficiently and unlock many opportunities for expansion and development for the Company.

EFG Hermes Corp Solutions was established in 2020 as part of EFG Hermes’ Non-Bank Financial Institutions (NBFI) platform to consolidate its leasing and factoring activities, founded in 2015 and 2018 respectively. business provides businesses of all sizes with the necessary leverage to grow and develop their businesses. This transaction with MNHD follows the sale-leaseback agreement that Corp-Solutions signed with the real estate center Misr Italia Properties in October 2021, for an amount of EGP 750 million with the aim of refinancing the emblematic property of Garden 8 Mall real estate development company.

“It is a great honor for us to have completed our first transaction with MNHD, which has a great history that began in the 1960s and continues to drive growth in the Egyptian real estate sector today,” said Talal. El Ayat, CEO of EFG Hermes Corp Solutions. . “This transaction allowed us to further strengthen our strategy of developing a one-stop-shop for our clients at EFG Hermes Holding. Providing financing opportunities to real estate developers creates business prospects for many supporting sectors within the real estate supply chain, thus supporting the government’s mega plan to increase housing opportunities for Egypt’s growing population. .

-Ends-

About EFG Hermes Holding

With a current presence spanning thirteen countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) started in Egypt and has enjoyed over 37 years of success in becoming the universal bank in Egypt with a banking platform of leading investment with access to emerging and frontier markets. Drawing on our proven track record and a diverse team of talented employees, we provide a wide range of financial services including advisory, asset management, securities brokerage, research and private equity. entire MENA region.

In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which monitors activities in the area of ​​non-bank finance covering microfinance, leasing, factoring, Buy-Now Pay -Later (BNPL), mortgage and insurance. This fits in with the company’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which have enabled the company to establish a physical presence in Pakistan, Bangladesh. , Vietnam, Kenya, Nigeria, United Kingdom and United States. In 2021, the company acquired a majority stake in aiBANK allowing the company to transform into a universal bank in Egypt.

For more information, please contact:

EFG Hermes public relations team

[email protected]

Mai El Gammal

Group Marketing & Communication Manager

[email protected]

Note on forward-looking statements

In this press release, EFG Hermes may make forward-looking statements, including, for example, statements regarding management expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but represent only the belief of EFG Hermes regarding future events, many of which, by their nature, are inherently uncertain and beyond the control of management and include, among others, the volatility of financial markets ; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, current and future laws, regulations and regulatory measures. Therefore, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.

About Madinet Nasr for Housing and Development (MNHD)

Madinet Nasr for Housing & Development (MNHD) is a leading Egyptian urban developer. Since its establishment, the company has initiated and completed a number of key developments, including the majority of the Nasr City district in the Greater Cairo region, which covers an area of ​​over 40 million square meters and is home to 3 million people. The MNHD land reserve comprises 3.5 mn m² in a privileged location inside Cairo opposite the Cairo international airport and 5.5 mn m² in a strategic location on the Suez road. You can learn more about us on our website at mnhd.com.

Abdallah Sallam

Chairman and CEO (CEO)

MNHD

4, rue Youssef Abbas.

Nasr City, Cairo

Phone: +2 (02) 2400-6207

[email protected]

Salah katamish

Director of Investor Relations

MNHD

4, rue Youssef Abbas.

Nasr City, Cairo

Phone: +2 (02) 2400-6207

[email protected]


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