QNB Egypt, a subsidiary of QNB Group and a leading financial institution across the Middle East and Africa, has signed a medium-term financing agreement worth EGP 5.5 billion with MARAKEZ, one of Egypt’s largest mixed-use real estate developers.
The financing will partially cover investment costs linked to the residential and commercial expansion of the District 5 project, a flagship development spanning 268 acres in East Cairo. The project represents a fully integrated mixed-use destination, combining residential communities, commercial areas, and diverse lifestyle facilities.
Supporting Large-Scale Urban Development
The agreement reflects QNB Egypt’s strategy to actively support large-scale infrastructure and real estate developments, in alignment with Egypt’s national vision to expand new urban communities and promote sustainable economic growth.
By financing key projects such as District 5, the bank reinforces its role in driving economic activity, stimulating investment, and supporting related industries including construction, services, and retail.
Signing Ceremony and Key Attendees
The agreement was signed by:
- Mohamed Bedeir, Chief Executive Officer of QNB Egypt
- Ahmed Demerdash Badrawi, Executive Vice Chairman of MARAKEZ
The ceremony was attended by senior executives from both organizations, including:
- Mohamed Khairat, Assistant CEO & Chief Business Officer at QNB Egypt
- Osama Ezzo, Chief Financial Officer at MARAKEZ
Executive Remarks
Commenting on the agreement, Mohamed Bedeir, CEO of QNB Egypt, stated:
“This partnership underscores QNB Egypt’s commitment to empowering leading players in the Egyptian market through tailored financing solutions aligned with international best practices. By supporting large-scale developments, particularly in the real estate sector, we contribute to accelerating economic activity and creating value across interconnected industries.”
From his side, Ahmed Demerdash Badrawi, Executive Vice Chairman of MARAKEZ, said:
“This financing marks an important milestone for District 5 and our wider portfolio. It enhances capital efficiency, accelerates project timelines, and reinforces our focus on delivering high-quality mixed-use developments ahead of schedule.”
District 5 Project Overview
District 5 is one of MARAKEZ’s flagship mixed-use developments, designed as an integrated community offering residential, commercial, and lifestyle experiences.
Key highlights include:
- Strategic location in East Cairo
- Minutes from the American University in Cairo and 90th Street
- Approximately 20 minutes from Cairo International Airport
- Residential district and administrative business zones
- Retail and entertainment spaces featuring leading local and international brands across fashion, sports, dining, and lifestyle
The project aims to deliver a fully integrated urban experience combining living, working, and leisure within a single destination.
Strengthening Egypt’s Real Estate and Investment Landscape
This financing agreement highlights growing confidence in Egypt’s real estate sector, particularly in large-scale mixed-use developments that align with urban expansion strategies and long-term economic planning.
By supporting projects like District 5, QNB Egypt and MARAKEZ continue to play a key role in shaping modern urban communities and contributing to sustainable development across the country.
