A consortium led by Abu Dhabi Islamic
Finance (ADI Finance), a subsidiary of Abu Dhabi Islamic Bank Egypt (ADIB),
signed an agreement with Kuwait’s Babtain Group to finance the latter’s Royal
Park Mall project with EGP 420 million, according to an emailed statement on
The consortium includes Al Ahly Leasing and
Factoring Company, a subsidiary of the National Bank of Egypt (NBE).
CEO and Managing Director of ADI Finance,
Mohammed Amiri, noted that the Royal Park Mall project was a new real estate
investment step for Babtain Group in Egypt and an addition to the growing
shopping malls market, which contributes to the growth of the Egyptian economy
and the achievement of the sustainable development.
For his part, the CEO and Managing Director
of Al Ahly Leasing and Factoring, Tarek Kandil, noted that financing
consortiums were among the key ways of securing financing for investors, amid
the current economic conditions.