Misr Italia nears to ink EGP 600mn loan deal for Cairo Business Park

Egypt’s property developer Misr Italia says it is close to sign a loan deal of 600 million Egyptian pounds ($36.9 million) with some banks to complete its flagship, Cairo Business Park.

The administrative complex is located at the Fifth Settlement district in New Cairo over 74,000 square metres, Misr Italia’s deputy chief executive Mohamed Hany El Assal told Amwa Al Ghad on Saturday.

Cairo Business Park, which includes 42 administrative buildings as well as a car parking and a five-star hotel, will be finalised within 2022, El Assal added.

“The project’s first phase will be delivered next June,” he said.