Talaat Moustafa Affirms Talks With 3 Banks Over EGP 1.8 Bln Loan

Egyptian property developer Talaat Moustafa Holding (TMG) (TMGH.CA) affirmed on Wednesday its ongoing talks with 3 local banks over a long-term loan worth EGP 1.8 billion to finance the establishment of a mall in New Cairo.

This comes after Amwal Al Ghad has exclusively published a news about current talks among Talaat Moustafa Group and 3 banks to receive a long-term loan worth EGP 1.8 billion to finance the establishment of a mall in Madinaty City, New Cairo.

On September 26th, Amwal Al Ghad has published in its website that senior banking sources said  the National Bank of Egypt, the Arab African International Bank (AAIB), and Banque Misr had received a request from TMG, seeking to obtain a loan.

The 3 banks are currently preparing a feasibility study on the project.

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