Helmy, Hamza & Partners, Baker McKenzie Cairo office, recently advised Banque Misr S.A.E on a real-estate development transaction for Arab Company for Projects and Urban Developments S.A.E., one of the most prominent companies operating under Talaat Moustafa Group Holding within the real-estate sector.

This transaction involved a strategic partnership between the Talaat Moustafa Group subsidiary and two Egyptian banks; Banque Misr and the National Bank of Egypt (NBE), to develop constructional projects in residential cities of Al-Rehab and Madinaty. A total of EGP 4 billion will be allocated for upcoming residential, commercial and administrative projects over 341,000 sqm of land in both cities by the Arab Company for Projects and Urban Development in favor of an investment company jointly owned by Banque Misr and NBE.

Commenting on the deal, Lamyaa Gadelhak, Partner and Co-head of Banking & Projects at Helmy, Hamza & Partners, Baker McKenzie Cairo said: "We have had the honor of representing an exceptional organization such as Banque Misr on a significant and interesting partnership with strong players and sector leaders in the Egyptian market. This deal represents a first of its kind real-estate development business model in the Egyptian market and further demonstrates our expertise in this sector. It definitely had contributed to our continued success in closing significant and landmark deals in record-time amidst existing COVID-19 challenges.”

The deal was announced and signed on August 30th, 2020.

The Helmy, Hamza & Partners, Baker McKenzie Cairo, counsel team was led by Partner and Co-head of Banking & Projects Lamyaa Gadelhak and supported by Real-estate expert and Senior Counsel, Mohamed Saleh Hafez and Senior Associate, Banking & Projects Ghada El Gharib.
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