EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt\u2019s leading leasing and factoring companies, announced today that it has signed a sale and leaseback agreement amounting to EGP 600 million with LMD to finance its all-in-one leisure and business complex 3\u2019Sixty.<\/p>\n\n\n\n
The financing was split into two tranches equally, the first of which was completed last January while the second transaction was concluded in early March. The agreement will allow LMD to speed the construction of 3\u2019Sixty business and leisure park, enabling the company to achieve true competence, deliver on its promises, and continue to earn the trust of its stakeholders.<\/p>\n\n\n\n
\u201cWe are extremely delighted to collaborate with a world-class real estate developer such as LMD and to provide it with the financing needed to complete its remarkable project- 3\u2019Sixty. This new partnership is part of EFG Hermes Corp-Solutions\u2019 on-going efforts to expand our service offerings across different key sectors such as real estate, maritime, fintech, among many others,\u201d said CEO of EFG Hermes Corp-Solutions Talal Elayat. \u201cThe real estate sector in Egypt continues to be one of the most attractive and fast-growing sectors and we plan to continue to offer our premium financing opportunities to real estate developers in order to add high-quality, income-generating assets to our portfolio.\u201d<\/p>\n\n\n\n
3\u2019Sixty is a multi-use project located on the Mohamed Bin Zayed Axis in New Cairo\u2019s Golden Square, minutes away from the American University in Cairo and accessible from various areas across New Cairo. The commercial development\u2019s service offerings encompass offices, clinics, and retail spaces with a total investment of EGP 4 billion, spanning a total build-up area of 153,642 sqm.<\/p>\n\n\n\n
Eng. Amr Sultan, CEO of LMD, commented: \u201cIt gives us great honor to sign this tie-up, through which our clients can acquire their administrative, commercial, and medical units in 3\u2019Sixty with relative ease. Our partnership with EFG Hermes Corp-Solutions will ensure fast-paced construction and on-time delivery. To truly make 3\u2019Sixty a business and leisure park, we also partnered with the globally renowned collaborative design firm, Gensler, for the park\u2019s master plan, as well as JLL as the project\u2019s Retail Consultant and Tenant Mix to ensure the best quality like we always sought out at LMD. We will continue partnering with the best.\u201d<\/p>\n\n\n\n
This collaboration with LMD marks the third in several agreements by EFG Hermes Corp-Solutions in the real estate industry. These agreements form part of the company\u2019s strategy to partner with key players across vital industries to help them meet their rapidly increasing financing needs.<\/p>\n\n\n\n
EFG Hermes Corp-Solutions was established in 2020 under EFG Hermes Holding\u2019s Non-Bank Financial Institutions (NBFI) platform to consolidate its factoring and leasing businesses, founded in 2015 and 2018 respectively, as well as providing businesses of all sizes with leverage to grow and develop their business ventures.<\/p>\n\n\n\n
Established in 2007, LMD is among the nation\u2019s few real estate companies with a portfolio expanding beyond the Egyptian borders. It penetrated markets in Dubai and Barcelona with a total of 5,000 units covering 6.2 million sqm, including its Egyptian residential, hospitality, administrative and commercial ventures in Cairo. Through providing a project with business, leisure, and premium health care such as 3\u2019Sixty and with its prime location, LMD sets new standards for all-inclusivity and offers a superior quality to the Egyptian life. 3\u2019Sixty is set to be a great addition in the heart of the Golden Square in New Cairo.<\/p>\n\n\n\n
\u2014Ends\u2014
About EFG Hermes Holding
With a current footprint spanning thirteen countries across four continents, EFG Hermes Holding (EGX: HRHO.CA \u2013 LSE: EFGD) started in Egypt and has grown over 38 years of success to become a universal bank in Egypt with a leading investment banking platform with access to emerging and frontier markets. Drawing on our proven track-record and a diverse team of talented employees, we provide a wide spectrum of financial services that include advisory, asset management, securities brokerage, research and private equity to the entire MENA region.
In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), mortgage and insurance. This falls in line with the Firm\u2019s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States. In 2021, the firm acquired a controlling stake in aiBANK allowing the Firm to transform into a universal bank in Egypt.
Learn more about us at www.efghermes.com & stay connected with us: \u202f \u202f \u202f \u202f <\/p>\n\n\n\n
For further information, please contact:
The EFG Hermes Holding Public Relations Team
PublicRelations@EFG-Hermes.com<\/p>\n\n\n\n
May El Gammal
Group Head of Marketing & Communications
melgammal@efg-hermes.com<\/p>\n\n\n\n
Note on Forward-Looking Statements
In this press release, EFG Hermes Holding may make forward looking statements, including, for example, statements about management\u2019s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes Holding\u2019s belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management\u2019s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
About LMD for Real Estate Development
LMD was established in 2007 as first-rate real estate developer. Its profile encompasses projects beyond the Egyptian borders with a value of EGP 40 billion. It penetrated markets in Dubai and Barcelona with a total of 5,000 units covering 6.2 million sqm, including its Egyptian residential, hospitality, administrative and commercial ventures in Cairo. The company\u2019s history of having a record of actual performance in global projects gives LMD its pedestal as a leading real estate developer. Among their projects is the Continental Tower in Dubai, and Munataner 91 in Barcelona, as well as the touristic project \u2013 Vola in Greece. LMD\u2019s newest project in Cairo is One -Ninety in New Cairo with an area exceeding 344,315 sqm that includes W Cairo, Aloft Hotels, W Residences Cairo under the international Marriot administration, and The Residences at St. Regis New Cairo. Some of LMD\u2019s active projects in New Cairo Layan is designed to develop luxurious prime location and setting the bar higher through superior services and high-quality after-sale care. LMD also has ZOYA which lies at the heart of Ghazala Bay in the North Coast, situated on the 142 km Alex-Matrouh Road. In addition to their business and leisure park- 3\u2019Sixty, which is a multi-use project located on the Mohamed Bin Zayed Axis in New Cairo\u2019s Golden Square on an area of 55,203 sqm.<\/p>\n\n\n\n
For further information, please visit LMD\u2019s website:
http:\/\/www.lmd.com.eg<\/p>\n","protected":false},"excerpt":{"rendered":"
The agreement capitalizes on EFG Hermes Corp-Solutions\u2019 efforts to provide financing to Egypt\u2019s premium real estate development firms EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt\u2019s leading leasing and factoring companies, announced today that it has signed a sale and leaseback agreement amounting to EGP 600 million with LMD …<\/p>\n","protected":false},"author":3,"featured_media":188910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[266],"tags":[],"class_list":["post-188909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\n