Egypt - The National Bank of Egypt (NBE) has arranged a syndicated financing facility worth EGP 1.42bn for Al Qamzi Developments to finance part of the investment costs for the first and second phases of the SEAZEN project on Egypt’s North Coast. Under the arrangement, NBE is acting as facility agent, lead arranger, documentation bank, and bookrunner, with a participation of EGP 920m. Soha El-Turky said the financing underscores NBE’s confidence in Al Qamzi’s financial strength, operational expertise, and the feasibility of the SEAZEN project, which she described as a distinctive addition to North Coast developments. He added that the company is currently achieving high execution rates at the SEAZEN project, positioning it as one of the most prominent developments on the North Coast. The SEAZEN project spans 204 feddans at kilometre 170 in the Dabaa area on the North Coast, with total investments estimated at around EGP 23bn.

Source: Daily News Egypt February 03, 2026 17:38 UTC