A banking consortium of six banks has granted joint financing to Mountain View Development and Real Estate Investment Company in the amount of 6.2 billion to finance one of its projects in East Cairo.
A banking consortium led by Banque Misr, acting as financing agent, guarantor and account bank, with the participation of QNB Egypt as lender, Industrial Development Bank as lender, United Bank as lender, Egyptian Gulf Bank as lender, and Al Baraka Bank as lender, in concluding a long-term joint financing agreement with a maximum term of 7 years and a value of EGP 6.2 billion to finance part of the investment cost of the Mountain View project in East Cairo, which totals approximately EGP 14.4 billion.
The financing agreement was signed on Wednesday, 30 July 2025, by Mr. Mohamed Khairat, Head of Corporate Credit and Syndicated Loans at Banque Misr, and Mr. Abdel Rahman Talaat , Head of Large Corporate Finance and Investment at QNB Egypt, Mr. Essam Morsi, Head of Large Corporate Credit and Syndicated Loans at the Industrial Development Bank, Mr. Albert Nasan Lamai, Head of Syndicated Loan Financing at the United Bank, Mr. Karim Shabana, Head of Corporate Finance and Syndicated Loans at Egyptian Gulf Bank, Mr. Mostafa Mohamed Amin Mostafa Al-Arousi, Deputy CEO at Al Baraka Bank, Mr. Amr Soliman, – Founder and Executive Chairman of Mountain View, Eng. Wael Lotfy – Co-CEO of Mountain View, and Dr. Amr El-Khouly – Head of Business at Mountain View. The signing was attended by a distinguished group of leaders from the participating banks and the company.
It is worth noting that Mountain View Development and Real Estate Investment has established itself as one of the leading real estate developers in Egypt by developing more than 20 integrated projects over more than two decades, covering East and West Cairo and the Red Sea and Mediterranean coasts.
The company’s approach is based on integrating innovation into the design and implementation of its projects in accordance with the highest international standards, ensuring the provision of integrated living experiences that enhance the quality of life and meet the aspirations of current and future generations.
Mr. Hisham Okasha, CEO of Banque Misr, emphasised that Banque Misr’s participation in financing real estate projects is a continuation of its leading role in supporting the Egyptian economy and is in line with the state’s urban development plan within the Egypt 2030 vision. The bank attaches particular importance to supporting real estate development companies and is keen to support and assist real estate developers. This financing comes as an extension of projects in the real estate sector, which is one of the most influential sectors in the Egyptian economy, Its advancement is reflected in all other economic sectors, as it is linked to a large group of industries and activities, as well as intermediate industries, which the bank is keen to finance as part of its strategy to support various economic sectors to provide more job opportunities in various specialisations, thereby serving sustainable development plans in a practical manner.
Mr. Hisham Okasha praised the role of the Banque Misr team and the cooperation with the teams of the participating banks, which resulted in the successful completion of the financing. He pointed out that the bank always strives to provide multiple financing options in the field of real estate financing, whether for individuals through the financing of residential units, or for real estate developers in line with their different needs, especially in the context of new urban communities to alleviate population congestion.
Engineer Amr Soliman, founder and executive chairman of Mountain View, said, “The signing of the joint financing agreement reflects the great confidence that major Egyptian and regional banks have in our investment model and long-term vision.
This financing will support the rapid implementation of our expansion plans and enhance our ability to develop integrated urban communities in accordance with the highest standards of sustainability and quality of life. At the same time, this financial cooperation embodies the vital role played by the banking sector in supporting urban development and enabling real estate developers to create sustainable economic and social values that meet the needs of the future.”
For his part, Mr. Mohamed Badir, CEO of QNB Egypt, said: “Our contribution to this joint financing confirms our commitment to supporting the national economy by financing investments in vital sectors, foremost among which is the real estate sector, which is one of the main drivers of growth as it provides thousands of job opportunities and direct support to many other sectors such as construction, thereby contributing to improving economic performance. Given the secure investment opportunities offered by the real estate sector, QNB Egypt is keen to enter into various partnerships with major real estate development companies. This not only supports our leading financial position in the banking market, but also represents a strategic step in supporting Mountain View, one of the most prominent real estate development companies in Egypt.
This cooperation also reflects our belief in the importance of partnership between the banking sector and the real estate development sector, and our keenness to continue financing projects with economic and social feasibility, in accordance with the highest standards of efficiency and risk management, in order to achieve sustainable development and vision.Egypt 2030.”
Mr. Hussein Refai, CEO and Managing Director of the Industrial Development Bank, stated, “We are proud to participate in this joint financing, which reflects our firm belief in the importance of strategic partnerships between national banks to support vital sectors of the Egyptian economy.
This financing comes within the framework of the Industrial Development Bank’s approach to providing innovative financing solutions that serve sustainable development plans, especially in the areas of real estate, industry and infrastructure. We believe that joint financing is not only a financing tool, but also a lever for development that enables us to direct capital to projects that achieve real added value for the economy and society.
Refai added that the Industrial Development Bank continues to provide innovative financing solutions that support sustainable urban expansion and keep pace with the state’s targets and Egypt’s Vision 2030.
In this regard, Mr. Ashraf El-Kady, CEO of United Bank, stated after the signing ceremony that the real estate investment sector is redrawing Egypt’s urban, investment and economic map.
In terms of urban expansion, the real estate investment sector is working within the Egyptian state’s plan for urban expansion and maximising the volume of real estate investments in all governorates of the republic. This is being achieved through the establishment of a number of new urban communities and encouraging citizens to live and work there, such as the administrative capital, in addition to 12 new cities across the country, such as New Alexandria, New Assiut, New Suez, as well as tourist villages on the north coast.
In terms of encouraging real estate investments, the real estate investment sector is one of the safe investment mechanisms that is widely accepted by Egyptians. The future of real estate investment is undergoing a period of significant growth and prosperity in terms of construction, sales, and purchases.
In terms of economic development, the real estate sector is considered the main and direct driver of many sectors, most notably the construction and manufacturing industries. This contributes to stimulating economic growth, creating more job opportunities, developing infrastructure, and expanding in the field of digital transformation.
Mr. Karim Shabana, Head of Corporate Finance and Syndicated Loans at the Egyptian Gulf Bank, said
“This financing operation embodies EG Bank’s firm commitment to supporting strong entities with a clear vision, such as Mountain View. The financing of this project is a qualitative step towards balanced urban expansion and confirms the role of financial institutions in directing financing towards projects with a tangible developmental impact. The success of this joint loan is proof of the mutual trust between the participating banks and Mountain View, and confirms the project’s position as a key component of modern real estate development plans. At AG Bank, we are proud of our role in supporting this vital sector, which is a key driver of economic growth and job creation.”
Mr. Hazem Hegazy, CEO and Deputy Chairman of Al Baraka Bank – Egypt, expressed his pride in this partnership, saying: “Al Baraka Bank – Egypt’s participation in this joint financing comes within the framework of our commitment to supporting real estate projects with clear economic feasibility, such as the Mountain View project in New Cairo, which is one of the integrated projects that contribute to the development of new urban communities. This participation is an extension of Al Baraka Bank’s approach to directing financing towards projects with real added value that stimulate economic activity, especially those related to multiple productive and service sectors. We also appreciate the banking cooperation that made this financing possible, reflecting the banking sector’s ability to unite efforts to finance strategic projects that require long-term resources.
The banks participating in the financing believe in the need to join forces to support the state’s plans to boost the national economy and are keen to play their vital role in supporting all activities that have a positive impact on sustainable development plans.
