We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to a syndicate of leading Egyptian banks, led by Banque Misr and comprising Banque du Caire, National Bank of Egypt, Housing and Development Bank, and Suez Canal Bank, in a landmark EGP 5.2 billion Islamic Mudarabah financing facility granted to Inertia Developments, a leading Egyptian real estate developer.

The syndicate has provided a financing package of up to six years to accelerate the development of Inertia's flagship “Jefaira - Ras El-Hekma” project.

This complex transaction aligns with the state's direction to diversify financial instruments. The project itself is a major integrated urban development on a 2.7 million square meter site, set to transform the area into a premier investment and tourism destination.

The MBH team was led by Mahmoud Bassiouny (Regional Managing Partner - Group Head of Projects and Finance), supported by Iman Nassar (Senior Associate) and Sherouk Haiba (Associate).

Engineering Consulting Group S.A. (ECG) acted as the engineering advisor, and Baker Tilly (Wahid AbdelGhaffar & Co) acted as the auditor.

For more about Matouk Bassiouny, visit https://matoukbassiouny.com/.