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. Bank Al Baraka Egypt is participating as an arranger with a contribution of EGP 500m, underscoring the strength of cooperation between the two banks and their capacity to execute large-scale financing transactions. 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 02, 2026 18:35 UTC