The EGP 500 million will be disturbed among HAP's International Company for Tourism and Development and Katameya for Development, Tourism, and Real Estate
Beltone Leasing, a subsidiary of Beltone Financial Holding, and Hassan Allam Properties Group (HAP) have signed an EGP 500 million sale-and-leaseback agreement with Hassan Allam Properties Group (HAP) to finance assets for two of HAP’s subsidiaries.
The EGP 500 million will be disturbed among HAP's International Company for Tourism and Development and Katameya for Development, Tourism, and Real Estate. The financing will be used to finance commercial and hospitality assets and will be equally split between the subsidiaries.
“We are proud to collaborate with Hassan Allam Properties, one of Egypt’s largest real estate groups, and to provide it with a tailored financing solution to facilitate its ambitious expansion plans… This strategic partnership marks the beginning of a series of valuable collaborations and deals for Beltone Leasing,” said Amir Ghannam, CEO of Beltone Leasing.
“[The agreement] attests to our nationwide presence and accentuates our expansion aspirations across a diverse range of real estate asset classes and mixed-use developments, extending beyond residential properties to encompass commercial, retail and hospitality ventures. We highly value our partnership with Beltone Leasing, recognizing their extensive expertise in the field and are confident that it will yield promising results,” explained Mohamed Allam, CEO of Hassan Allam Properties.
