Helmy, Hamza & Partners, Baker McKenzie Cairo Legal Counsel to Banque Misr on a Real Estate Financing to Landmark Developments

Helmy, Hamza & Partners, Baker McKenzie Cairo office, acted as legal counsel to Banque Misr, as a lender in connection with a real estate financing to Landmark Developments ("LDM"), a leading real estate developer in Egypt owned by Engineer Ahmed Sabbour. Banque Misr, along with EG Bank and Suez Canal Bank, signed a loan agreement valued at EGP 2.8 billion on 19 November, 2024, specifically for the development of a fully serviced residential project named 'STEI8HT' in New Cairo City, covering an area of approximately 375 acres.

The financing is structured as a long-term syndicated facility, which will be used to cover the development costs, as well as other project-related expenses.

Commenting on the transaction, Mostafa Lotayef, Counsel at Helmy, Hamza & Partners, who led the Baker McKenzie Cairo team on the matter, stated: "We are proud to have assisted Banque Misr in this significant transaction, which will contribute to the development of a major residential project in New Cairo. This deal underscores our commitment to providing top-tier services in the real estate financing sector."

The Cairo team comprised of Mostafa Lotayef, Ghada El Gharib, Hania Meshref and Omar Mahmoud.