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Inertia borrows EGP 575m from Banque Du Caire

Inertia borrows EGP 575m from Banque Du Caire
The funding will be secured in a year
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By: Abdullah Bedeir

Cairo – Mubasher: Inertia Egypt signed a deal to obtain a loan worth EGP 575 million from Banque Du Caire.

The loan will be directed to finance the construction works of the real estate firm’s projects, managing director of Inertia, Ahmed El-Adawy, said in a press conference on Tuesday.

The funding will be secured in a year to be repaid over a period of five years, El-Adawy added.

In addition, Inertia plans to inject EGP 2 billion to its projects over the next twelve months, he noted.

The Egyptian real estate company has a portfolio of lands with a total area of 7 million square metres, in addition to developing ten projects.