{"id":324836,"date":"2022-03-09T10:11:32","date_gmt":"2022-03-09T10:11:32","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324836"},"modified":"2022-03-11T10:14:06","modified_gmt":"2022-03-11T10:14:06","slug":"efg-hermes-signs-egp-600m-sale-leaseback-agreement-with-lmd-real-estate-developer","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/03\/09\/efg-hermes-signs-egp-600m-sale-leaseback-agreement-with-lmd-real-estate-developer\/","title":{"rendered":"EFG Hermes signs EGP 600m sale, leaseback agreement with LMD real estate developer"},"content":{"rendered":"

EFG Hermes Corp-Solutions, a leasing and factoring subsidiary of EFG Hermes Holding, announced on Wednesday that it has signed a sale and leaseback agreement amounting to EGP 600m with LMD to finance its all-in-one leisure and business complex \u201c3\u2019Sixty\u201d. <\/span><\/p>\n

The financing was split into two tranches equally, the first of which was completed last January while the second transaction was concluded in early March. The agreement will allow LMD to speed the construction of 3\u2019Sixty business and leisure park, enabling the company to achieve true competence, deliver on its promises, and continue to earn the trust of its stakeholders.<\/span><\/p>\n

\u201cWe are extremely delighted to collaborate with a world-class real estate developer such as LMD and to provide it with the financing needed to complete its remarkable project- 3\u2019Sixty. This new partnership is part of EFG Hermes Corp-Solutions\u2019 on-going efforts to expand our service offerings across different key sectors such as real estate, maritime, fintech, among many others,\u201d said CEO of EFG Hermes Corp-Solutions Talal Elayat. <\/span><\/p>\n

\u201cThe real estate sector in Egypt continues to be one of the most attractive and fast-growing sectors and we plan to continue to offer our premium financing opportunities to real estate developers in order to add high-quality, income-generating assets to our portfolio.\u201d<\/span><\/p>\n

3\u2019Sixty is a multi-use project located on the Mohamed Bin Zayed Axis in New Cairo\u2019s Golden Square, minutes away from the American University in Cairo and accessible from various areas across New Cairo. The commercial development\u2019s service offerings encompass offices, clinics, and retail spaces with a total investment of EGP 4bn, spanning a total build-up area of 153,642 sqm. <\/span><\/p>\n

Amr Sultan, CEO of LMD, commented: \u201cIt gives us great honor to sign this tie-up, through which our clients can acquire their administrative, commercial, and medical units in 3\u2019Sixty with relative ease. <\/span>Our partnership with EFG Hermes Corp-Solutions will ensure fast-paced construction and on-time delivery. To truly make 3\u2019Sixty a business and leisure park, we also partnered with the globally renowned collaborative design firm, Gensler, for the park\u2019s master plan, as well as JLL as the project\u2019s Retail Consultant and Tenant Mix to ensure the best quality like we always sought out at LMD. We will continue partnering with the best.\u201d<\/span><\/p>\n

\u00a0<\/span><\/p>\n

This collaboration with LMD marks the third in several agreements by EFG Hermes Corp-Solutions in the real estate industry.\u00a0 These agreements form part of the company\u2019s strategy to partner with key players across vital industries to help them meet their rapidly increasing financing needs.<\/span><\/p>\n

EFG Hermes Corp-Solutions was established in 2020 under EFG Hermes Holding\u2019s Non-Bank Financial Institutions (NBFI) platform to consolidate its factoring and leasing businesses, founded in 2015 and 2018 respectively, as well as providing businesses of all sizes with leverage to grow and develop their business ventures. <\/span>\u00a0<\/span><\/p>\n

Established in 2007, LMD is among the nation\u2019s few real estate companies with a portfolio expanding beyond the Egyptian borders.<\/span><\/p>\n

It penetrated markets in Dubai and Barcelona with a total of 5,000 units covering 6.2 million sqm, including its Egyptian residential, hospitality, administrative and commercial ventures in Cairo. Through providing a project with business, leisure, and premium health care such as 3\u2019Sixty and with its prime location, LMD sets new standards for all-inclusivity and offers a superior quality to Egyptian life. 3\u2019Sixty is set to be a great addition in the heart of the Golden Square in New Cairo.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

EFG Hermes Corp-Solutions, a leasing and factoring subsidiary of EFG Hermes Holding, announced on Wednesday that it has signed a sale and leaseback agreement amounting to EGP 600m with LMD to finance its all-in-one leisure and business complex \u201c3\u2019Sixty\u201d.<\/p>\n","protected":false},"author":4,"featured_media":324663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[82],"class_list":["post-324836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-efg-hermes"],"yoast_head":"\nEFG Hermes signs EGP 600m sale, leaseback agreement with LMD real estate developer - egy-africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/03\/09\/efg-hermes-signs-egp-600m-sale-leaseback-agreement-with-lmd-real-estate-developer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes signs EGP 600m sale, leaseback agreement with LMD real estate developer - 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