Matouk Bassiouny & Hennawy Advised On An EGP 5.2 Billion Islamic Mudarabah Financing Facility For INERTIA EGYPT
Matouk Bassiouny & Hennawy advised on an EGP 5.2 billion Islamic Mudarabah financing facility for INERTIA EGYPT
The leading full-service MENA (Middle East and North Africa) law firm, Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to a syndicate of leading Egyptian banks, led by Banque Misr and comprising Banque du Caire, National Bank of Egypt (NBE), بنك التعمير والإسكان (HD Bank), and Suez Canal Bank, in connection with a landmark EGP 5.2 billion Islamic Mudarabah financing facility granted to INERTIA EGYPT, a leading Egyptian real estate developer.
The syndicate has provided a financing package of up to six years to accelerate the development of Inertia’s flagship "Jefaira – Ras El-Hekma" project. This complex transaction aligns with the state’s strategy to diversify financial instruments. The project is a major integrated urban development spread over a 2.7-million-square-meter site, aimed at transforming the area into a premier investment and tourism destination.
Engineering Consulting Group S.A. (ECG) acted as the engineering advisor, and Baker Tilly (Wahid AbdelGhaffar & Co) acted as the auditor.
The MBH team advising on the transaction was led by Mahmoud Bassiouny(Regional Managing Partner and Group Head of Finance & Projects), and included Iman Nassar (Senior Associate)and Sherouk Haiba(Associate).
Matouk Bassiouny & Hennawy is a leading full-service MENA (Middle East and North Africa) law firm, not a global one. It has offices in Egypt, the UAE, Sudan, and Algeria, along with a New York satellite office and country desks for Libya and South Korea, and frequently collaborates with international firms to serve its multinational clients.
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