Al-Futtaim Group will sign an agreement with Commercial International Bank (CIB) – Egypt for a EGP 532 million credit facility that will go for financing the second phase in Cairo Festival City project in New Cairo.
Mohamed El-Mekkawy, Managing Director, Majid Al-Futtaim, said the loan’s huge value proves the economic feasibility of the project and its significance in the local market, according to Almasry Alyoum gazette.
The official commended the role played by local banks, particularly CIB, in bolstering investment projects, amid available liquidity, which will create more jobs and activate trade.
Mohamed El-Mekkawy, Managing Director, Majid Al-Futtaim, said the loan’s huge value proves the economic feasibility of the project and its significance in the local market, according to Almasry Alyoum gazette.
The official commended the role played by local banks, particularly CIB, in bolstering investment projects, amid available liquidity, which will create more jobs and activate trade.
Source:
Mubasher
