Arab Today, arab today majid al futtaim eyes 500m loan
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Majid Al Futtaim eyes $500m loan

Arab Today, arab today

Arab Today, arab today Majid Al Futtaim eyes $500m loan

Dubai - Agencies

Dubai-based developer Majid Al Futtaim (MAF) has picked two Egyptian banks to arrange a loan worth around $500 million, to fund construction of its Mall of Egypt project, three sources with knowledge of the move told Reuters. The developer, the sole franchise of Carrefour in the Gulf, has chosen Banque Misr and National Bank of Egypt as lead arrangers for the deal, two of the sources said. The cash will be used to fund the group\'s Mall of Egypt, a 160,000 sq m site in Cairo which will be one of North Africa\'s largest shopping centres. A proposal is expected to be sent to other banks in the next two weeks, once final decisions over the transaction structure have been made. Commitments in dollars and Egyptian pounds are likely to be permitted, the sources said.      Interest in the deal is likely to be restricted to local and regional banks as many internationals have restrictions on lending into Egypt following political unrest there. \'I don\'t see MAF going outside the local banks. There aren\'t a lot of banks outside Egypt that are going to put money on the table right now,\' said one of the sources -- a London-based banker, speaking on condition of anonymity. MAF wasn\'t immediately available for comment. MAF Chief Executive Iyad Malas told Reuters in October it was talking to local banks about securing 13-year finance to fund a new mall in Egypt. The Mall of Egypt loan had been earmarked for early 2011 but the political unrest resulted in the plans being postponed, a separate source at an international bank said. MAF has two malls, three hypermarkets and some supermarkets in Egypt.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today majid al futtaim eyes 500m loan Arab Today, arab today majid al futtaim eyes 500m loan

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today majid al futtaim eyes 500m loan Arab Today, arab today majid al futtaim eyes 500m loan

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday