Maxim Group takes out a bridge loan worth EGP300mln from NBE

Maxim Group signed an agreement with the National Bank of Egypt to take out a bridge loan worth EGP300mln, constituting a part of a syndicated loan with NBE operating as the arranging bank.

The agreement was signed by head of NBE’s Credit Banking Division for Corporations and Syndicated Loans Sherif Riyad, and by Maxim’s  chairman Dr. Mohamed Krar. 

Earlier this month, managing director of Maxim Group Eng. Ismail Omar inked cooperation protocols and deals with contractors and international partners to lay out all plans and future works relevant to Maxim Group Bo Islands & Sands, a prime settlement  at the North Coast with  all its  residential units overlooking artificial lakes. 

The project, having Crystal Lagoon as a specialized international partner,  is scheduled to deliver the first phase units in the summer of this year. 

Commenting on the bridge loan agreement, president of Maxim Group’s Consulting Council Eng. Yaser El-Qady said it testities to the group’s credibility, adding that NBE’s participation shows off the state’s support for mega economic projects and the ambition plan aiming at turning the North Coast into a destination  for heavy investments all year round. 

Maxim Group, trying to realize its own vision, made use of highly acclaimed international and local consultancies in marketing, engineering and law such as, BKR and JLL.