The National Bank of Egypt announced that it is leading a banking consortium to provide joint financing worth EGP 1.42 billion to El Qamzy Company, covering part of the investment costs for the first and second phases of the SEAZEN project on the North Coast.
The National Bank of Egypt acts as the finance agent, lead arranger, and financing marketer with a share of EGP 920 million, while Al Baraka Bank – Egypt contributes EGP 500 million.
The financing agreement was signed in the presence of senior representatives from the participating banks and El Qamzy Company, highlighting the importance of joint financing in supporting major real estate projects.
The SEAZEN project spans an area of 204 acres on the North Coast and includes a variety of residential units, green spaces, and integrated service facilities.
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This news highlights the role of joint financing as a key mechanism for supporting large-scale real estate projects and emphasizes the banking sector’s contribution to providing structured funding for integrated developments.