Baker McKenzie Cairo has advised Marakez, one of Egypt’s leading mixed‑use real estate developers, on a medium-term financing agreement valued at EGP 5.5 billion with QNB Egypt, a leading financial institution in the region and a subsidiary of QNB Group.
The financing is intended to support the residential and commercial expansion of District 5, Marakez’s prominent mixed-use development spanning 268 acres in East Cairo.
Located in East Cairo, District 5 benefits from a strategic location in close proximity to Cairo’s business district, the American University in Cairo and Cairo International Airport, positioning it as one of the city’s most famous urban developments.
The transaction supports Marakez’s ongoing growth strategy, strengthening its capital structure and supporting the timely delivery of large‑scale, high‑quality real estate projects aligned with Egypt’s urban development agenda.
Baker McKenzie Cairo acted as legal counsel to Marakez provided legal advice on the transaction, including reviewing and negotiating the full suite of financing and security documents, and addressing lender requirements related to cash‑flow mechanics and asset‑backed repayment.
The Baker McKenzie Cairo team was led by Partner Mostafa Lotayef and Associate Noureldin Elhayatmy.
Commenting on the transaction, Mostafa Lotayef, Partner at Baker McKenzie Cairo, said: “We are pleased to continue supporting Marakez on complex financing transactions that underpin the development of high profile mixed use projects in Egypt. This financing reflects the continued confidence of financial institutions in Marakez’s developments and highlights the importance of structuring robust, bankable facilities to support large scale real estate investments.”
This transaction further builds on Baker McKenzie Cairo’s ongoing support to Marakez. Most recently, the firm advised Marakez on an EGP 3 billion bilateral facility to support the expansion of District 5’s Mindhaus Campus, as well as on a separate EGP 3 billion bilateral facility with Banque Misr.
The financing is intended to support the residential and commercial expansion of District 5, Marakez’s prominent mixed-use development spanning 268 acres in East Cairo.
Located in East Cairo, District 5 benefits from a strategic location in close proximity to Cairo’s business district, the American University in Cairo and Cairo International Airport, positioning it as one of the city’s most famous urban developments.
The transaction supports Marakez’s ongoing growth strategy, strengthening its capital structure and supporting the timely delivery of large‑scale, high‑quality real estate projects aligned with Egypt’s urban development agenda.
Baker McKenzie Cairo acted as legal counsel to Marakez provided legal advice on the transaction, including reviewing and negotiating the full suite of financing and security documents, and addressing lender requirements related to cash‑flow mechanics and asset‑backed repayment.
The Baker McKenzie Cairo team was led by Partner Mostafa Lotayef and Associate Noureldin Elhayatmy.
Commenting on the transaction, Mostafa Lotayef, Partner at Baker McKenzie Cairo, said: “We are pleased to continue supporting Marakez on complex financing transactions that underpin the development of high profile mixed use projects in Egypt. This financing reflects the continued confidence of financial institutions in Marakez’s developments and highlights the importance of structuring robust, bankable facilities to support large scale real estate investments.”
This transaction further builds on Baker McKenzie Cairo’s ongoing support to Marakez. Most recently, the firm advised Marakez on an EGP 3 billion bilateral facility to support the expansion of District 5’s Mindhaus Campus, as well as on a separate EGP 3 billion bilateral facility with Banque Misr.
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