United Contracting and General Supplies Company is seeking to secure EGP 150 million in financing to fund the works and construction of its integrated urban development project on the Cairo–Ismailia Desert Road in 10th of Ramadan City. The financing is being arranged by Metropolitan Egypt for Consulting, the company’s financial advisor, through leasing companies operating in the Egyptian market.
Metropolitan Egypt for Consulting is providing financial advisory services and arranging the financing required for the project, including assessing the company’s financing needs, preparing the financial and credit file, and coordinating with the appropriate financing institutions in line with the nature of the project and the company’s requirements.
Dr. Khaled Nagaty, Chairman and Managing Director of Metropolitan Egypt for Consulting, said: “We are pleased to cooperate with United Contracting and General Supplies Company in arranging the financing required to implement its investment plan. The EGP 150 million financing is intended to fund the works and construction of the project, in addition to financing its promotional and advertising campaign, which will help the company accelerate the project’s implementation and maximize the utilization of its assets and investment capabilities.”
Nagaty added: “At Metropolitan, we are committed to providing our clients with integrated financing solutions, starting with assessing their financing needs and preparing the financial and credit file, through to coordinating with the appropriate financing institutions, whether banks or non-bank financial institutions, in a manner that suits the nature of each project and its requirements.”
For his part, Dr. Islam Mohamed, General Manager of Metropolitan, expressed his appreciation for the cooperation with United Contracting, stressing that securing appropriate financing is a key factor in supporting the company’s plans to implement its project and expand its business during the coming period.
He added that the project is being developed on land allocated to the company on the Cairo–Ismailia Desert Road, south of Al-Maaref Road in 10th of Ramadan City. The land has an area of approximately 301,000 square meters and is designated for an integrated urban development project, according to the land documentation.
As part of the preparation of the financing file, the company engaged a real estate valuation firm registered with the Financial Regulatory Authority to conduct a valuation of the land, in support of the financing file submitted to the financing institutions and to fulfill the requirements necessary for evaluating the targeted financing.
The legal department also reviewed the contracts and documents related to the company and the project through Counselor Hassan El-Sherif and Counselor Ayman Makram, Metropolitan’s legal advisors, alongside Mr. Mohamed Amin, Director of Legal Affairs at Metropolitan.
The financing arrangement comes as part of Metropolitan’s strategy to provide integrated financial advisory and financing arrangement services and to help companies access appropriate sources of funding. These include bank and non-bank financing, through banks, leasing companies, factoring companies, investment funds, and merger and acquisition transactions.
It is worth noting that Metropolitan is one of the first financial advisory firms in Egypt to have started providing these services since 2009.
