saib participates in EGP 2.1bn syndicated loan for Tameer Developments’ Azad Views project
Saib Bank has joined a consortium of banks to arrange and underwrite a syndicated loan worth EGP 2.1bn for Tameer Real Estate Developments, aimed at financing part of the investment cost for the second and third phases of the company’s Azad Views project in New Cairo’s Fifth Settlement.
The financing was oversubscribed by 1.5 times, underscoring the confidence of Egypt’s banking sector in the strength and resilience of the local real estate market, which continues to be one of the country’s most dynamic investment arenas.
“Our participation in this syndicated financing aligns with the bank’s commitment to supporting economically viable real estate projects,” said Afdal Naguib, CEO and Managing Director of saib. “It also reflects our ongoing strategy to direct funding toward value-added ventures that stimulate the Egyptian economy.”
Naguib explained that saib acted as both arranger and lender, contributing EGP 600m toward financing part of the project’s investment cost. The loan extends over six years, providing long-term support for the completion of Azad Views, one of Tameer’s flagship residential communities.
He added that saib’s participation in the deal reaffirms its commitment to supporting Egypt’s national development plans and promoting infrastructure growth in a sustainable and integrated manner.
Naguib also emphasised that the construction and real estate sector remains a key driver of economic expansion, acting as a catalyst for multiple related industries. “Supporting such projects through banking institutions plays a pivotal role in stimulating the national economy and boosting Egypt’s GDP,” he noted.
The partnership reflects the growing role of Egyptian banks in financing major real estate and infrastructure developments that align with the state’s vision for urban expansion and sustainable economic growth.
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