Baker McKenzie in Cairo guided Mashareq Real Estate Investment, part of Pioneers Properties for Urban Development or PRE Group. They handled a key EGP 1 billion loan from a group of banks. The National Bank of Egypt led that group.
This funding will help build Zag East. It’s a business and office project in New Cairo. The site sits right on South Teseen Street. It lies next to major city spots. The deal highlights Baker McKenzie’s ongoing support for big real estate projects in Egypt. It also points to rising trust in the market. People want top-notch, adaptable office areas.
Mostafa Lotayef, a partner at Baker McKenzie Cairo, shared his thoughts. He said: We feel good about guiding Mashareq Real Estate Investment on this big real estate and funding deal. Closing the group loan shows the solid state of Egypt’s real estate field. Top banks trust its future growth. Zag East will change things. We enjoy helping our client make it real.
Zag East brings fresh building designs. It offers units in many sizes. These fit startups, small and medium businesses, and large companies. This project starts a larger city plan by PRE Group. The goal is to boost business setups in a prime Cairo area.
A team from the firm gave full legal help. They covered the deal’s setup and close. Mostafa Lotayef led as Cairo partner. Hania El Shazly joined as associate.