FABMISR Leads EGP 4.2 Billion Syndicated Loan for Redcon Properties’ “Golden Gate” Project

Reinforcing its ongoing commitment to supporting major developmental projects
in Egypt, First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, announced it
has led a syndicated loan worth EGP 4.2 billion for Redcon Properties to finance the execution of its
flagship commercial and administrative project, Golden Gate, in the heart of New Cairo.
FABMISR acted as the initial mandated lead arranger, Bookrunner, Facility Agent, security agent, and
account bank for the transaction. The syndicate also includes Al Baraka Bank Egypt and Abu Dhabi
Commercial Bank as mandated lead arrangers, along with Arab Bank and Emirates NBD Egypt as lead
arrangers, in a collaboration that reflects mutual confidence in then the project’s viability and developmental
value. Matouk Bassiouny Hennawy served as the lenders’ legal counsel.
The financing was oversubscribed by 1.2x, activating the Greenshoe Option to raise the facility amount
from EGP 3.5 billion to EGP 4.2 billion — a testament to the innovative structuring and lenders’ trust in
the project.
Commenting on this, Mr. Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, said: “"We
are proud to lead this financing alliance, which reflects the essence of our strategy to empower large
Scale real estate projects with a forward-looking vision. The EGP 4.2 billion facility, structured over 3.5
years as a revolving credit, will partially fund the investment cost of Golden Gate. This collaboration
reflects our growing confidence in the Egyptian market and in the ability of local companies to deliver
transformative urban development projects aligned with sustainability goals.”
Eng. Tarek ElGamal, Chairman of Redcon Properties, emphasized the significance of the project.
stating: “We deeply value this financial partnership and take pride in our longstanding relationship with
FABMISR under the leadership of Mr. Mohamed Abbas Fayed. We are especially honored that FABMISR
has selected one of Redcon’s LEED-certified green buildings as its new headquarters. We are also
grateful for the trust shown by the participating banks and their esteemed leadership. This financing
marks a significant boost toward accelerating the implementation of Golden Gate’s phases to the
highest standards. For us, Golden Gate is not just a real estate project; it’s a meaningful contribution to

“The journey of urban development in Egypt”
Eng. Ahmad Touni, CEO of Redcon Properties, added: “Golden Gate represents a paradigm shift in
urban development. We aim to deliver an integrated experience that redefines commercial and
administrative communities, with a strong focus on environmental sustainability and catering to a wide
range of users. Featuring international-grade commercial and administrative units, the project is
designed to attract both local and international investments and serve as a hub for major banks and
companies. The financing will cover part of the first phase’s investment cost of approximately EGP 24.3

billion, spanning 178,000 square meters of built-up area. This reflects trust in our long-term strategic
vision and a successful model of cooperation between the real estate and banking sectors.”
For his part, Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated: “Our
involvement in this joint financing deal aligns with our strategy to support the real estate sector and
actively drive Egypt’s urban development momentum. We believe syndicated loans offer a vital platform
to stimulate investment in projects with direct economic and social impact. Our commitment to
integrated financing solutions underscores our support for sustainable growth, infrastructure
enhancement, and improved quality of life in Egypt’s new cities, in line with the country’s urban

expansion vision.”
Likewise, Mr. Ehab El Sewerky, CEO and Managing Director of Abu Dhabi Commercial Bank Egypt,
commented: “Our participation in this syndicated loan reaffirms our strong commitment to Egypt’s
economic development and reflects our strategic focus on actively contributing to vital sectors like real
estate development, in alignment with the state’s efforts to fund major projects, empower the private
sector and create job opportunities, thereby supporting the goals of sustainable development.”
Mr. Ahmed Ismail, Area Manager of Arab Bank, said: “Arab Bank is committed to offering financial
solutions that back strategic projects and contribute to the development of key sectors and sustainable
economic growth. We are proud to participate in this banking alliance and to support the financing of a

project of this scale and significance.”
Meanwhile, Mr. Amr El Shafei, CEO and Managing Director of Emirates NBD Egypt, also remarked:
“We are proud to announce this landmark agreement with our valued partner, Redcon Properties. This
deal represents a major step forward in our strategic collaboration and stands as a testament to the
trust and shared vision that define our relationship.”
He added: “Such impactful and successful deals align with our strategic objectives, reinforce our
competitive position and fuel sustainable growth. It enhances our position as a trusted banking partner
that supports its clients’ ambitions and showcases our commitment to driving economic and urban

development in Egypt.”
The financial alliance, led by FABMISR, reinforces Golden Gate’s position as one of East Cairo’s most
prominent mixed-use developments. Strategically located in the heart of New Cairo, the project features
a 1.2-kilometer frontage on South 90 Street—directly opposite the American University in Cairo
(AUC)—and is just 400 meters from the nearest monorail station, ensuring seamless connectivity with

the area’s modern infrastructure.
Golden Gate offers an exceptional retail and leisure experience and includes one of Egypt’s largest
underground parking facilities, spanning 250,000 square meters over two levels. Embracing cutting-edge
sustainability standards, the project reduces service costs by 40% and stands as the country’s largest

green, mixed-use development. Redcon Properties is partnering with leading local and international
entities to implement smart, clean energy management solutions.