Cairo – Mubasher: Al Arabia Co. For Real Estate Development (ARCO) has obtained an EGP 1 billion from the Arab African International Bank (AAIB), Sarie Eldin & Partners Legal Advisors said on Monday.

The financing aims to support the firm’s new urban development projects, Sarie Eldin & Partners Legal Advisors’ statement added.

Sarie Eldin & Partners Legal Advisors was the legal advisor for the bank.

The lender's loan for ARCO is deemed the largest amount during the current period and it would raise ARCO’s investments, said partner in legal advisors office Amira Sherif.