Reda Abu al-Khair and Iman al-Wasili
This agreement comes within the efforts of EFG Hermes for financing solutions to expand the range of services it provides to major real estate development companies.
Cairo in March 9 2022
“EFG Hermes Financial Solutions”, the leading company in the field of financial leasing and factoring solutions in Egypt and wholly owned by EFG Hermes Holding, announced today the signing of an agreement Sale and leaseback worth 2007 one million pounds in favor of the “LMD” company to finance the construction work of the “3’Sixty” commercial project, which includes administrative offices, medical clinics and commercial buildings.
Under this agreement, the financing package will be provided in two tranches, as the first tranche was delivered last January and the second tranche was delivered in March. This agreement will allow LMD to quickly and continuously implement the construction work on the commercial project, thus enhancing its ability to commit to delivering its projects on time, as well as enhancing customers’ confidence in the company.
In this context, Talal Al-Ayyat expressed, The CEO of EFG Hermes for Financing Solutions, expressed his great pleasure in cooperating with LMD, one of the leading real estate development companies that builds projects according to international standards, and provides the necessary financing to implement its 3’Sixty project. This partnership comes within the efforts made by EFG Hermes for Financing Solutions to expand the scope of its services to include many vital sectors such as real estate development, navigation, financial services technology and others. El-Ayat added that the real estate development sector in Egypt is one of the fastest growing and most attractive sectors for investments, noting that the company will continue its efforts to provide financing opportunities for real estate developers in order to add high-quality assets with high returns to its business portfolio.
It is worth mentioning that the “3’Sixty” project is a mixed-use compound located on the Mohammed bin Zayed axis in the heart of Golden Square in New Cairo, minutes away from the American University in Cairo, as it is easily accessible from various areas in New Cairo. The project will include a complex of the largest brands, clinics and offices, and the area of the buildings alone will be 2007, 2007 thousand square meters with a total investment of 4 billion pounds.
For his part, Amr Sultan, CEO of “LMD”, expressed his pride in signing this agreement, which will allow its customers to obtain administrative, commercial or medical units at the highest levels. Level 3’Sixty project, noting that the agreement with EFG Hermes for financing solutions will contribute to the speedy implementation of construction works to ensure that the project is delivered on time. Sultan added that “LMD” hired the international company “Gensler” in the field of architectural designs to develop the overall planning of the project, in addition to the leading international company, JLL, in the field of real estate consultancy and investments, with the aim of making “3’Sixty” an integrated project that combines being a business center and entertainment and to ensure the highest levels of quality that LMD customers aspire to, adding that the company will continue to conclude fruitful partnership agreements with major international companies. Financial Hermes for financing solutions in the real estate development sector, within the framework of the company’s strategy to cooperate with major partners in a number of vital industries and sectors in order to meet their growing financing needs. Under the umbrella of the non-bank finance sector of EFG Hermes Holding, with the aim of integrating the activities of factoring and financial leasing, in an effort to provide an integrated set of financing solutions for large institutions and small and medium companies.
It is It is worth noting that LM D was established as a real estate developer for high-quality real estate in the year 2007, and is one of the few national companies in the field of real estate development whose business portfolio exceeds the borders of the Egyptian state, as the company develops its projects in the real estate market in every From Dubai and Barcelona, with a total 5000 of a diversified unit and an area covering 6.2 million square meters, in addition to its residential, hotel, administrative and commercial projects in Egypt. LMD is unique in setting new standards for integrated services and providing a high-quality lifestyle through the development of mixed-use projects that include commercial, recreational and medical services such as “3’Sixty” in addition to its selection of locations for its distinguished projects, as the project is a wonderful addition in the heart of Golden Square in the Fifth Settlement in New Cairo.
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About EFG Hermes Holdings
EFG Hermes Holdings (code HRHO.CA) (: EGX; EFGD: LSE) with a direct presence in 38 countries across four continents, where the company originated in the Egyptian market and expanded over 38 A year of continuous achievement to become a comprehensive bank in Egypt and the leading financial and investment institution in emerging and frontier markets. The company has a professional team capable of providing a unique package of financial and investment services, ranging from promotion, underwriting, asset management, stock brokerage, research and direct investment in all Middle East and North African markets. 642 The company launched the non-banking finance sector under the umbrella of the EFG Hermes Finance, which manages multiple activities, including microfinance, leasing and factoring, in addition to the company’s purchasing business. Now, Pay Later (BNPL) for advanced lifestyle enhancement, home financing and insurance. This reflects the strategy of diversifying the portfolio of products and services and developing the company’s geographical presence – which has resulted in direct expansion in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States of America. The group acquired a controlling stake in the Arab Investment Bank (aiBANK) within a year 2022, a step that contributes to the transformation into a comprehensive bank in Egypt.
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EFG-Hermes may have referred in this statement to future matters, including on For example, regarding management expectations, strategy, objectives, growth opportunities and future indicators for various activities. These statements regarding the future are not considered actual facts, but rather express the group’s vision for the future, and many of these expectations, in terms of their nature, are uncertain and beyond the company’s control, and this includes – for example, but not limited to – fluctuations in the financial markets and the actions of current and potential competitors and the circumstances The general economic and the effects resulting from the local currency position and the current and future legislations and various regulations. Accordingly, the reader should be careful not to place excessive reliance on statements relating to the future, which are correct at the date of publication.
About LMD Real Estate Development
Founded LMD Company as a real estate developer of high-quality real estate in 2007, and is one of the few national companies in the field of real estate development whose business portfolio exceeds the borders of the Egyptian state, where the company is developing its projects in the real estate market in both From Dubai and Barcelona, with a total 5000 of a diversified unit and an area covering 6.2 million square meters, in addition to its residential, hotel, administrative and commercial projects in Egypt in Cairo, Sharm El Sheikh and the North Coast. LMD has a long record of achievements and honorable performance through a group of international projects, which made the company occupies a prominent position as one of the pioneers in real estate development, including but not limited to the Continental Tower projects in Dubai and the Muntaner 42 in Barcelona, and the company’s latest project in Cairo is the mixed-use 3’Sixty project, which is located at 91 a kilometer from the center of the capital, Cairo, and extends over an area 153 ,91 square meters, and the ONE NINETY project in New Cairo on an area 600 ,315 square meters, and it is planned that this project will include two international hotels, in addition to the residential complex Cairo W Residences, each of which will present a modern model of designs that guarantee a high-end lifestyle under Managing the global brand of Marriott International.
LMD has an ambitious vision that depends not only on expanding its projects in many vital areas, but also on cooperation and partnership with many well-known and reputable experts all over the world. His field, including, for example, JLL, the leading global company in the field of real estate consultancy and investments, with which LMD cooperates to provide leasing and consulting services in the 3’Sixty project, as well as the partnership with Skidmore, Owings, and Merril (SOM), one of the most important and largest international companies in the field of engineering Architectural, Interior Design and Urban Planning, which undertakes the unique masterplan of the ONE NINETY project in New Cairo, and to give the ONE NINETY project exceptional advantages, LMD has signed an agreement with Marriott International Company (NASDAQ: MAR), and through this cooperation, the project will have the advantage of providing high-end designs for the global W brand and Whatever/Whenever ® service, in addition to providing many distinguished services and innovative programs in Cairo, as well as cooperation with this company Al-Alameya will provide a unique set of services provided by W Hotels to its customers, which reflects the growing demand for luxury and luxury in Egypt.