Madinet Nasr Housing &  Development announced signing an agreement with Commercial International Bank (CIB)- Egypt for a credit facility worth EGP 530 million.
According to the company’s statement, the loan will go for supporting the build-out of the infrastructure and construction of Tag Sultan.
CIB had previously agreed to secure a medium-term loan of more than EGP 550 million for the company and an initial agreement was concluded in this regard.