The United Bank contributes EGP 600 million to a syndicated loan of EGP 6.2 billion, led by Banque Misr, for Mountain View Real Estate.
03/08/2025
The United Bank contributes EGP 600 million to a syndicated loan of EGP 6.2 billion, led by Banque Misr, for Mountain View Real Estate.
Ashraf El Kady - CEO and Managing Director
● Several reasons for banking institutions to support urban development projects.
Cairo: August 3, 2025
Last week, The United Bank, as part of a large banking syndicate of six banks led by Banque
Misr, signed a long-term syndicated loan agreement with a maximum tenor of seven years. The EGP 6.2 billion loan will finance part of the investment cost for the Mountain View 1.1 project, which has a total value of approximately EGP 14.4 billion. The signing ceremony was attended by Farag Abdel Hamid, Deputy Managing Director, Moataz El Kasaby, Deputy Managing Director and Head of Risk Sector, and Albert Nassan, Head of Syndicated Loans, on behalf of The United Bank.
Commenting on the event, Ashraf El Kady, CEO of The United Bank, stated that the bank's participation in this syndicated loan underscores its commitment to supporting the state's development plans and effectively contributing to a sustainable and integrated infrastructure that enhances citizens' quality of life.
He added that the construction sector is a major driver of economic growth for several reasons:
1. High Economic Return: Construction projects are among the most stimulating economic sectors for growth, as they impact more than 90 related industries, such as cement, iron, furniture, electricity, and paints. Therefore, the support of banking institutions for these projects contributes to stimulating the national economy and increasing the gross domestic product.
2. Achieving Sustainable Development Goals and Egypt's Vision 2030: The Egyptian state has adopted a strategic plan for urban expansion and the construction of smart, sustainable cities. Here, the role of banks, as national institutions, is to inject financing investments to achieve balanced geographical and demographic development, which relieves pressure on the Nile Valley and Delta regions.
3. Meeting High Market Demand: With population growth, there is a continuously increasing demand for residential units, service areas, and infrastructure. This makes urban development projects a promising investment opportunity.
4. Supporting Social Stability: Safe and high-quality housing is a right for every citizen. The banks' support for urban projects contributes to providing residential units for different segments of society, especially middle- and social-income housing, thereby supporting social stability.
5. Partnership with the State and Serious Developers: Banks play a significant role as a development partner with developers and the state in major projects (such as the New Administrative Capital, New Alamein, and New Mansoura), which enhances confidence and reduces risk ratios.
6. Transitioning Towards Green Financing and Sustainable Real Estate: With increasing market awareness, banks have begun financing projects that rely on sustainability standards, energy efficiency, and smart buildings, which is in line with the global trend towards environmentally responsible financing.
In the same context, Neveen Kassem, Deputy Managing Director for Business Sectors at The United Bank, indicated that The United Bank is one of the most important banks supporting all categories of construction and building activities. This is due to its importance as a key supporter of the development renaissance, as every cornerstone laid in any new project or city paints the features of a higher quality of life for citizens and opens doors of hope for millions of job and investment opportunities.
Neveen Kassem added that the urban expansion of the New Republic includes the New Administrative Capital, 12 new and smart cities spread across Egypt, including New Alexandria, New Assiut, New Suez, and New Alamein.
For his part, Farag Abdel Hamid, Deputy CEO of The United Bank, stated that the bank's participation in this syndicated loan is not just a traditional banking step, but a direct reflection of the national institution's role in shaping Egypt's future towards 2030.
Moataz El Kasaby, Deputy CEO of The United Bank, pointed out that The United Bank appreciates the importance of partnering with serious real estate developers who are committed to quality and sustainability standards to ensure the maximum economic and social return from these projects.
Albert Nassan, Head of Syndicated Loans, reinforced that The United Bank's participation in financing real estate projects is a continuation of its leading role in supporting the Egyptian economy, in line with the state's urban development plan within Egypt's Vision 2030. It is worth noting that the Mountain View 1.1 project is an extension of the Mountain View 1 project. It is an integrated project located in New Cairo, containing residential components (apartments and villas) in addition to commercial and administrative components, covering an area of 128 acres with a total investment cost of approximately EGP 14.4 billion. End.
