6 Banks to Sign Final Contracts for Hyde Park’s Loan Today

Six banks, represented in the National Bank of Egypt (NBE), the Egyptian Arab Land Bank (EALB), Banque Du Caire, the United Bank, Arab Investment Bank as well as Industrial Development & Workers Bank of Egypt (IDWBE), will be signing today the final contracts of Hyde Park’s Loan which worth EGP 1.2 billion .
The National Bank of Egypt, Hyde Park Loan’ main arranger, has finished the marketing EGP 800 million out of the total finance value of EGP 1.2 billion.
Accordingly,  5 other banks; Banque Du Caire, EALB, the United Bank, Arab Investment Bank as well as the IDWBE.
Exclusive – Awal Al Ghad Arabic has published the final shares in Hyde Park’s loan, noting that NBE has captured the biggest share worth EGP 400 million, while the EALB seized EGP 300 million, Banque Du Caire take over EGP 200 million, and Arab Investment Bank, the IDWBE as well as the United Bank have both captured EGP 100 million for each one of them.
The loan is designated to finance the commercial framework for Hyde Park’s project in New Cairo district. The ownership structure distributed over Housing and Development Bank (HDB) as it seized 82.5% and the Egyptian New Urban Communities Authority (NUCA) captured the remaining percentage of the ownership structure after it approved settlement with the UAE developer DAMAC last April.