November 12, 2020

Waterway in talks over EGP 1B Islamic loan

ArabFinance: The Waterway Developments is currently in discussions with local banks to obtain a sharia-compliant credit facility (Islamic loan) at a total value of EGP 1 billion, Shorouk News cited unnamed sources on November 8th.

The potential facility will be a medium-term loan that will be used for covering the investment costs of Waterway’s real estate projects, the sources added.

The firm is preparing to launch an EGP 5 billion urban development in New Cairo, which occupies a total land space of 30 feddans, according to the sources.

Waterway has revealed pumping EGP 30 billion for carrying out seven projects.


Categories : islamic finance

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