We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as the legal advisor to the Arab African International Bank (“AAIB”) in respect of an EGP 1.7 billion and 1.8 billion financing granted to Tatweer Misr to cover part of the project’s construction and development costs of Bloomfields and Il Monte Galala respectively.
MBH represented AAIB in respect of the transaction, has prepared the loan agreement, finance documentation, and security documentation, and has negotiated these on behalf of AAIB.
This agreement will help finance the company’s Il Monte Galala beachfront development project in Ain Sokhna and Bloomfields residential compound in New Cairo.
Tatweer Misr has been offering an innovative outlook on integrated living to strongly emerge as a leading real-estate developer in Egypt, fulfilling the rising demand for mixed-use projects that enrich the life of its communities. It is worth noting that Tatweer Misr plans to deliver 2000 residential units a year over the coming few years.
MBH Team advising on the transaction was led by Ashraf Hendi (Partner), and assisted by Iman Nassar (Senior Associate), and Nouran Azab (Junior Associate).