Inertia Egypt signed a contract with Banque Misr to obtain a medium-term Islamic funding worth EGP 1.1 billion to finance the company’s project in the North Coast.
The Mudarabah funding will be used to finance the development of Jefaira project over a period of eight years and half, according to a statement on Tuesday.
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The project is being built over an area of 5.5 million square metres in the North Coast with an investment of EGP 66 million. Upon completion, the project is expected to include 12,000-14,000 units.
