Banque Misr grants EGP 2.6bn credit facility to Hyde Park for ‘Sea Shore’ project
Summary
Banque Misr has signed a credit facility agreement with Hyde Park Developments, providing EGP 2.6bn in financing to support the investment costs of the Sea Shore project on Egypts North Coast. The signing ceremony was attended by Hisham Okasha, CEO of Banque Misr; Hassan Ghanem, CEO and Managing Director of the Housing and Development Bank (HDB) and Chairperson of Hyde Park; Mohamed Khairat, Head of Corporate Credit and Syndicated Loans at Banque Misr; and Amin Serag, Managing Director of Hyde Park.Spanning 240 feddans, the Sea Shore project is designed as a high-end coastal destination, featuring a mix of residential and hotel units for sale, alongside commercial spaces available for lease. Ghanem described Sea Shore as a landmark project in Hyde Parks portfolio, reflecting the companys dedication to delivering world-class, integrated developments that provide long-term value to Egypts real estate sector. He further highlighted the projects role in supporting Egypts Northwestern Coast development plans, attracting large-scale investments, creating job opportunities, and fostering sustainable economic growth.Khairat reaffirmed the banks commitment to providing diverse and tailored financing solutions that meet the evolving needs of both individual and corporate clients. Serag described Sea Shore as a premium addition to Egypts coastal market, blending luxury with diversity through high-end residential and hotel units that adhere to the highest international standards.