Prime Minister Mostafa Madbouly witnessed on Monday, October 12, 2026, at the government headquarters in the New Administrative Capital the signing of financing agreements worth EGP 10 billion between Banque Misr and Founders Real Estate Marketing, a subsidiary of Hyde Park Real Estate Development.
The financing, with a tenor of up to eight years, is intended to fund the purchase and marketing of assets owned by the New Urban Communities Authority (NUCA), as well as cover the operational costs associated with the projects. The signing ceremony was attended by Eng.
Randa El Mashawy, Minister of Housing, Utilities and Urban Communities; Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities; Dr. Ahmed Emara, Acting Head of the Real Estate and Commercial Affairs Sector at NUCA; Hisham Okasha, CEO of Banque Misr; and several senior officials from Banque Misr, Hyde Park Real Estate Development and Founders Real Estate Marketing.
The agreements were signed by Yehia Abu El-Fotouh, Chairman of Hyde Park Real Estate Development and Vice Chairman of Founders Real Estate Marketing; Eng. Amin Serag, Chairman of Founders Real Estate Marketing and Managing Director of Hyde Park Real Estate Development; and Amr El-Demerdash, Head of Corporate Credit and Syndicated Loans at Banque Misr.
The agreements form part of Banque Misr’s strategy to support the real estate sector by financing projects that provide integrated residential, commercial and administrative units. These efforts support Egypt’s urban development plans under Vision 2030 and stimulate economic activity across real estate-related sectors.
The financing also reflects the bank’s commitment to providing comprehensive financial solutions that meet clients’ needs and support their expansion plans and projects. Following the signing, Minister of Housing Randa El Mashawy said the agreement reflected the banking sector’s confidence in real estate development and its promising opportunities.
She noted that the projects fall within the state’s efforts to provide housing units that meet citizens’ diverse needs and promote integrated urban development in areas requiring further development and improvement. She added that enabling middle-income groups to benefit from these projects was a government priority at this stage.
El Mashawy also congratulated NUCA on this step, which enables the company to participate in delivering and marketing housing units for middle-income households, reinforcing the state’s efforts to provide suitable housing for all segments of society. For his part, Hisham Okasha, CEO of Banque Misr, said the real estate sector was vital to economic growth because it stimulates numerous related industries and activities and creates direct and indirect job opportunities, thereby generating added value for the Egyptian economy.
He affirmed that supporting the sector and financing development projects were consistent with Egypt’s Vision 2030, which seeks to advance urban development and stimulate economic activity across various sectors. Okasha added that the benefits of urban development extend beyond the provision of residential, commercial and administrative units to encompass a wide range of supporting industries and services, boosting production, investment and employment.
He reaffirmed Banque Misr’s commitment to continuing to finance projects that drive economic growth and urban development. Eng. Amin Serag, Chairman of Founders Real Estate Marketing and Managing Director of Hyde Park Real Estate Development, said the financing reflected the mutual trust and longstanding strategic relationship between the company and Banque Misr.