Cairo – Mubasher: GlobalCorp for Financial Services (GlobalCorp), an Egyptian non-banking financial services institution (NBFS), and Mountain View have signed a leasing facility agreement at a value of EGP 450 million.
This seven-year deal comes in the line with the objective of supporting the real estate development sector, according to a press release.
Upon the agreement, GlobalCorp will finance the construction activities of Mountain View’s latest projects to back its growth plans among other developers in Egypt.
Hatem Samir, Founder and CEO of GlobalCorp, stated: “In GlobalCorp, we continue to support this promising sector in terms of providing the tools necessary for financing expansions at various levels.”
Ghada Nour, Group CEO-Investment and Assets management of Mountain View - DMG, noted: “This comes in line with our plans to find competitive financing solutions to expedite the construction workspace for our current projects.”
Last May, Amethis, the European Bank for Reconstruction and Development (EBRD), and SPE Capital acquired a majority stake in GlobalCorp.
