Amlak Finance PJSC, a leading Sharia-compliant real estate finance company headquartered in Dubai, UAE, announced the signing of a share purchase agreement with Al Baraka Bank Egypt to sell 100% of the capital of Amlak Finance Egypt LLC. The transaction marks a significant milestone in Amlak Finance Egypt’s strategic journey, with Al Baraka Bank Egypt set to acquire full ownership upon completion of all regulatory approvals.
Strategic Commitment to Growth and Islamic Finance
Mr. Ahmed Salama, Chairman of Amlak Finance Egypt, commented: “This agreement reflects Amlak Finance’s commitment to executing its strategic objectives. We are proud of Amlak Finance Egypt’s growth and achievements and believe Al Baraka Bank Egypt is well-positioned to support the next phase of development.”
He extended his gratitude to Al Baraka Bank Egypt for its dedication throughout the transaction, and to Egyption Financial Brokerage House (EFH) / Al Ahly Pharos for their valuable advisory support, as well as to all parties involved for their professionalism and commitment.
Expanding Al Baraka Bank Egypt’s Presence in Real Estate Finance
Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, emphasized that the acquisition represents a key step in the bank’s growth strategy. “This deal adds a new entity to the bank’s portfolio within the non-banking financial sector, enhancing our suite of Sharia-compliant products and services. It aligns with Al Baraka Group’s broader strategy to expand non-banking financial services across the region,” Hegazy said.
He also acknowledged the dedication of the bank’s M&A team and all involved staff for their professionalism and commitment throughout the process.
Al Ahly Pharos’ Role in Supporting the Deal
Mr. Ahmed Haider, CEO of Al Ahly Pharos, congratulated both Amlak Finance and Al Baraka Bank Egypt on the strategic transaction. “This deal strengthens the bank’s presence in Sharia-compliant financial products and supports the development of Egypt’s real estate finance sector,” he said.
Mr. Mohsen Abu El Nour, Head of Capital Markets and M&A at Al Ahly Pharos, added:
“I am delighted to witness this share purchase agreement. The transaction underscores the attractiveness and potential of Egypt’s real estate finance market and demonstrates the increasing interest of Egyptian banks in expanding non-banking financial services to diversify offerings for clients. It also reinforces Al Ahly Pharos’ position as a leading financial advisor in M&A transactions.”
Financial and Legal Advisors
On the seller side, Al Ahly Pharos acted as the exclusive financial advisor to Amlak Finance PJSC, while Al Tamimi & Co. served as the legal counsel.
On the buyer side, Capital Markets Financial Investments, a subsidiary of Synergy Capital, acted as the exclusive financial advisor to Al Baraka Bank Egypt, with Ali Eldin Shahy & Co. as legal counsel and Ledger Consulting as tax advisor.
