QNB Egypt and MARAKEZ Sign a 5.5 Bn EGP Facility Agreement for District 5

QNB Egypt, a subsidiary of QNB Group, a leading financial institution in the Middle East and Africa, has signed a medium term financing agreement worth EGP 5.5 billion with MARAKEZ, one of Egypt’s largest mixed-use developers

The financing will support part of the investment costs associated with the residential and commercial expansions of the District 5 project, which spans 268 acres. Located in East Cairo, District 5 is a mixed-use flagship destination, offering integrated residential communities, commercial spaces, and a wide range of lifestyle experiences

This agreement aligns with QNB Egypt’s strategy to support large-scale developments and advance the real estate sector, in line with Egypt’s national agenda to expand new urban communities and drive sustainable economic growth

The agreement was signed by  Mohamed Bedeir Chief Executive Officer of QNB Egypt, and Mr. Ahmed Demerdash Badrawi, Executive Vice Chairman of MARAKEZ, in the presence of senior representatives from both sides including Mohamed Khairat Assistant CEO & Chief Business Officer at QNB Egypt, Osama Ezzo, Chief Financial Officer of MARAKEZ among others

Commenting on the agreement, Mohamed Bedeir CEO of QNB Egypt, stated: “This partnership underscores QNB Egypt’s commitment to empowering leading players in the Egyptian market through tailored financing solutions aligned with international best practices. By supporting the delivery of large-scale developments, particularly in the real estate sector, we contribute to accelerating economic activity, creating job opportunities and value across connected industries

From his part, Ahmed Demerdash Badrawi, Executive Vice Chairman of MARAKEZ, said: “This financing marks an important milestone for District 5 and our wider portfolio. It enhances our capital efficiency, accelerates project timelines, and reinforces our focus on delivering high-quality mixed-use developments that are ahead of schedule

District Five is one of Marakez’s flagship mixed-use developments, representing an integrated community offering all essential services and recreational facilities. Located in East Cairo, it’s minutes from the business district, the American University in Cairo, and 90th Street, and just 20 minutes from Cairo International Airport. The project features a state-of-the-art administrative area, a residential district, and a shopping mall showcasing top local and international brands in retail, sports, fashion, and food and beverage