Latest news with #HassanAllamHolding
Zawya
07-05-2025
- Business
- Zawya
Egypt: Al-Ahly Pharos concludes 1st Musharaka Sukuk issuance at $39mln
Arab Finance: Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), completed its first-ever Musharaka Sukuk issuance at a value of EGP 2.8 billion, according to an emailed press release. Al-Ahly Pharos acted as a financial advisor, lead manager, book-runner, and underwriter for the transaction, which will finance Bab Masr project, established by Hassan Allam Construction-owned Bab Masr Development. The offering received strong investor demand, achieving an oversubscription before closing the issuance. This issuance, which will be utilized to finance a greenfield mixed-use real estate project, marks a significant milestone in the evolution of Egypt's debt capital market. It also secures to access the debt capital market, expanding the landscape of financing opportunities and innovative debt instruments. Zulficar and Partners acted as the legal advisor for the transaction, while Baker Tilly served as the auditor. Middle East for Credit Rating and Investors Service (MERIS) acted as the credit rating agency for the issuance. Meanwhile, ECG was the transaction independent engineer, whereas RSM served as the independent financial advisor. Mohy-Eldin Abdin, Group CFO of Hassan Allam Holding, stated: 'This Sukuk issuance marks a significant milestone in Hassan Allam Holding's financing strategy.' He added: 'The strong participation of leading financial institutions, including National Bank of Egypt, and Suez Canal Bank as underwriters, with additional participation from ADCB, IDB, and SAIB, reflects strong investor confidence in both our vision and the broader potential of more diversified debt instruments.' Bab Misr is a mixed-use development project that spans 100,000 square meters and includes 17 buildings dedicated to commercial, administrative, residential, medical, and garage spaces. Located in Mohandiseen, the project is developed by Hassan Allam Holding. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
06-05-2025
- Business
- Daily News Egypt
Al Ahly Pharos closes landmark EGP 2.8bn Musharaka Sukuk for Bab Masr Development
Al Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), has announced the successful closure of Al Ahly Sukuk Company's inaugural Musharaka Sukuk issuance, valued at EGP 2.8bn. Acting as financial advisor, lead manager, bookrunner, and underwriter, Al Ahly Pharos played a central role in this landmark transaction, which attracted strong investor demand and was oversubscribed prior to closing. The proceeds will fund the Bab Masr project, a greenfield mixed-use real estate development by Bab Masr Development S.A.E., a fully owned subsidiary of Hassan Allam Construction S.A.E. The project is part of a strategic development surrounding the new Upper Egypt railway station in Mohandiseen, Egypt's largest rail hub, which integrates with Cairo Metro Line 3, the monorail, and the BRT system. Spanning 100,000 square meters, Bab Masr will include 17 buildings comprising commercial, administrative, residential, medical, and parking facilities. This transaction marks a series of 'firsts': it is Al Ahly Sukuk's debut in the Sukuk market, the first Musharaka Sukuk of its kind for the issuer, and a milestone in Hassan Allam Holding's financing strategy. It also represents a significant step forward in diversifying Egypt's debt capital markets and demonstrates the rising interest in Sharia-compliant financing tools. Ahmed Heidar, CEO and Managing Director of Al Ahly Pharos Investment Banking Group, stated: 'This transaction is a strong testament to the depth and strength of Al Ahly Pharos' advisory platform. It reinforces our strategic vision to drive innovation and broaden accessibility within Egypt's capital markets across DCM, ECM, and M&A. As more corporates turn to alternative financing tools, we remain committed to leading the evolution of capital market instruments in alignment with NBE Group's vision for an integrated financial services platform.' Heidar also extended his gratitude to all involved: 'I would like to sincerely thank our exceptional team for their tireless efforts and our client, Hassan Allam Holding, for their trust and ongoing partnership. This transaction reflects the strength of our relationship and shared commitment to growth. We're also deeply grateful to the Sharia Supervisory Committee for their innovative input, and to the Financial Regulatory Authority (FRA) for their continued support and forward-looking stance, which are critical in expanding Egypt's capital market landscape.' Mohy-Eldin Abdin, Group CFO of Hassan Allam Holding, commented: 'This Sukuk issuance marks a significant milestone in Hassan Allam Holding's financing strategy. The strong participation of leading financial institutions—including National Bank of Egypt and Suez Canal Bank as underwriters, and further support from ADCB, IDB, and SAIB—reflects investor confidence in our vision and the broader potential of diversified debt instruments. We are proud to have partnered with Al Ahly Pharos and a strong syndicate of advisors on this pioneering transaction.' Amir Sherif, Managing Director and Head of Debt Capital Markets at Al Ahly Pharos, added: 'This transaction represents a critical milestone—not only as our first Musharaka Sukuk issuance, but as a tangible step toward realizing our vision for Egypt's debt capital markets. At Al Ahly Pharos, we're committed to delivering tailored financial solutions, both conventional and non-conventional, that address our clients' evolving needs. Sukuk is just one component of a much broader aspiration to develop a dynamic, resilient, and diversified financial ecosystem.' He continued: 'I am incredibly proud of our Debt Capital Markets team. In just three years, they have successfully closed nearly EGP 100bn in structured and diversified transactions—an achievement made possible by their dedication, expertise, and client-centric approach.' Sherif concluded with appreciation for the collective effort: 'I extend sincere thanks to all transaction parties for their dedication and close collaboration. Most importantly, we are deeply grateful to Hassan Allam Holding for their strategic partnership and efforts in bringing this Sukuk to market. We also thank the FRA for their indispensable role in facilitating such progress and shaping the future of Egypt's capital markets.' Key advisory and transaction support was provided by Zulficar & Partners as legal counsel, Baker Tilly as transaction auditor, MERIS (Middle East for Credit Rating and Investors Service) as the credit rating agency, ECG as the independent engineer, and RSM as the independent financial advisor.
Zawya
06-05-2025
- Business
- Zawya
Hassan Allam Holding raises $55mln to fund Bab Masr project in Cairo
Egypt's Hassan Allam Holding has raised 2.8 billion Egyptian pounds ($55.26 million) Islamic loan to fund Bab Masr, a green field mixed-use development in Cairo being developed by its wholly owned unit Hassan Allam Construction. Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt, acted as a financial advisor, lead manager, book-runner, and underwriter for the Musharaka Sukuk, the firm said in a press statement. Bab Masr, located in Mohandiseen, is being developed by Bab Masr Development, a company fully owned by Hassan Allam Construction. The project spans 100,000 square metres and includes 17 buildings dedicated to commercial, administrative, residential, medical, and garage spaces. BabMasr is a key part of the development surrounding the Upper Egypt railway station, Egypt's largest, and connected to Cairo Metro's third line, monorail, and BRT system. National Bank of Egypt, Suez Canal Bank, ADCB, IDB, and SAIB participated as underwriters. Zulficar and Partners acted as the legal advisor, Baker Tilly as the transaction Auditor, MERIS (Middle East for Credit Rating and Investors Service) as the credit rating agency, ECG as the transaction independent engineer and RSM as the independent financial advisor for the issue. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
06-05-2025
- Business
- Zawya
Al Ahly Pharos Investment Banking and Hassan Allam Construction SAE successfully concludes their first Musharaka Sukuk issuance
Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt, proudly announced that it acted as a financial advisor, lead manager, book-runner, and underwriter for the successful closure of Al Ahly Sukuk's first issuance in the form of Musharaka Sukuk with a value of EGP 2.8 billion. The issuance will finance Bab Masr project, developed by Bab Masr Development S.A.E., a company fully owned by Hassan Allam Construction S.A.E. The offering was met with strong investor demand, achieving an oversubscription before closing the issuance. This landmark transaction marks the first-ever Musharaka Sukuk for the issuer and represents a significant milestone in the evolution of Egypt's debt capital market, particularly given its purpose to finance a greenfield mixed-use real estate project. It sets a precedent for similar ventures to access the debt capital market, broadening the landscape of financing opportunities and innovative debt instruments. The transaction also signifies a historic first for Hassan Allam Holding, one of Egypt's most distinguished and longstanding institutions, widely recognized as a national leader in engineering, construction, and infrastructure development. The Group's selection of Al-Ahly Pharos as the advisor for its debut into the debt capital market highlights the deep confidence placed in the firm's capabilities. Being mandated to lead a transaction of this scale and complexity is a testament to Al-Ahly Pharos' robust advisory expertise and its ability to deliver tailor-made, innovative financing solutions. The successful execution of this sukuk demonstrates how capital market instruments serve as powerful enablers of sustainable growth and diversification in corporate financing. It paves the way for other corporate institutions to explore alternative funding mechanisms, ultimately contributing to a more dynamic, resilient, and attractive investment market. Bab Misr is a Mixed-Use Complex Project located in Mohandiseen. The project, developed by Hassan Allam Holding, spans 100,000 m² and includes 17 buildings dedicated to commercial, administrative, residential, medical, and garage spaces. It forms a key part of the development surrounding the Upper Egypt railway station, Egypt's largest railway station. The station reduces congestion for southbound commuters and connects to Cairo Metro's third line, monorail, and BRT system. Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group quoted 'This transaction is a strong testament to the depth and strength of Al Ahly Pharos' advisory platform, and it reinforces our strategic vision to drive innovation and broaden accessibility within Egypt's capital markets in all DCM, ECM and M&A. As more corporates actively pursue alternative financing tools, we remain steadfast in our commitment to leading the evolution of capital market instruments aligned with the broader vision of NBE Group to deliver a fully integrated financial service platform' Heidar also added 'I would like to sincerely thank our exceptional team for their tireless efforts, and our client, Hassan Allam Holding, for their trust and continuing partnership. This transaction reflects the strength of our relationship and our shared commitment to growth. I am equally grateful to all parties involved in successfully closing this deal, your collaboration and dedication are truly valued and integral to this success'. Heidar concluded 'Lastly, we extend our sincere appreciation to the Sharia committee for their innovative solutions and deep understanding as well as the Financial Regulatory Authority for their continuous support and forward-looking approach. Their efforts are vital in expanding the horizons of Egypt's capital markets.' Mohy-Eldin Abdin, Group CFO of Hassan Allam Holding, stated, 'This Sukuk issuance marks a significant milestone in Hassan Allam Holding's financing strategy. The strong participation of leading financial institutions, including National Bank of Egypt, and Suez Canal Bank as underwriters, with additional participation from ADCB, IDB, and SAIB, reflects strong investor confidence in both our vision and the broader potential of more diversified debt instruments. We are proud to have partnered with Al Ahly Pharos along with a strong syndicate of advisors and institutions who played key roles in the successful execution of this transaction.' In the same regard, Amir Sherif, Managing Director and Head of the DCM, at Al Ahly Pharos added that 'This transaction marks a significant milestone not just as our first Musharaka sukuk issuance, but as a clear step forward in realizing our broader vision for Egypt's debt capital markets. At Al Ahly Pharos, we are committed to offering tailor-made financial solutions, both conventional and non-conventional, that respond to our clients' diverse and evolving needs. Sukuk is only one piece of the puzzle, this is just a scratch on the surface of our hopes and aspirations for the expansion and deepening of the market. Our ambition is to lead in structuring innovative, flexible and trail-blazing instruments that fuel corporate growth and market development.' Continuing Amir expressed 'I am incredibly proud of the tremendous efforts exerted by our Debt Capital Markets team. In just three years, this team has successfully concluded nearly EGP 100 billion in structured and diversified transactions, leaving their strong and lasting print on the Egyptian market, all being the fruit of their sleepless nights and magnificent efforts exerted to always meet our clients' needs'. Concluding, he added, 'I also want to thank all the transaction parties for their vital roles and close collaboration throughout this journey, the efforts dedicated have paid off. Most importantly, we're grateful to our client, Hassan Allam Holding, for their strategic partnership and effort exerted to ensure the success of the transaction. Lastly, we extend sincere appreciation to the FRA for their ongoing support, they're instrumental in enabling such progress and advancing Egypt's capital markets'. Zulficar and Partners acted as the legal advisor, Baker Tilly as the transaction Auditor, MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating agency for the issue, ECG as the transaction independent engineer and RSM as the independent financial advisor. About Hassan Allam Holding Hassan Allam Holding is one of the largest companies in Egypt and the MENA region, with 90 years of experience in the engineering, construction, and infrastructure sectors. The group operates in diverse sectors, including infrastructure, energy, water, industry, logistics, petrochemicals, and complex large-scale projects in Egypt and the MENA region. The founders of Hassan Allam Holding commenced operations in 1936, making it the oldest construction franchise in the MENA region, with a solid reputation, superior technical capabilities, and a diversified portfolio. With a legacy of identifying and investing in attractive infrastructure projects, the globally expanded group has a current backlog exceeding USD 6 billion. The group is listed among the Engineering News-Record (ENR) top 250 global contractors. About Al-Ahly Pharos Investment Banking S.A.E. Al-Ahly Pharos Investment banking, which is part of the National Bank of Egypt Group, is one of the leading investment banks in the Egyptian Capital Market operating in both Debt Capital Markets, Equity Capital Markets, as well as mergers and acquisitions sector in Egypt, providing integrated financial services. It relies on the strength of the National Bank of Egypt Group and holds a leadership position in the investment banking market, securities trading, research, asset management, and debt roles such as securitization and sukuk.
Gulf News
05-05-2025
- Business
- Gulf News
AD Ports Group to build industrial zone in Egypt
Dubai: The AD Ports Group continues its major expansion into the wider MENA territory, with a 50-year contract to build and operate a 20 square kilometer industrial and logistics park in Egypt. It will be located near the coastal city of Port Said on the Mediterranean Sea. The Kezad East Port Said Industrial Zone is projected as a 'key hub for international trade and investments' to service the East-West trade routes and being right at the entrance of the Suez Canal. .UAE-Pakistan trade gets single-window boost after AD Ports Group deal .AD Ports Group upsizes its revolving credit facility to $2.12 Ports Group will develop, construct, finance, operate, and manage the industrial and logistics zone in 1 will start with an area of 2.8 square kilometres. An estimated investment of $120 million will be allocated to market and technical studies as well as for Phase 1 development over the next three years. Construction on the initial phase is expected to start by the end of this phase will be anchored by key potential clients and partners, including one of the region's foremost construction and development groups, Hassan Allam Holding'.'This strategic cooperation is another sign of our Group's growing focus on Egypt, where we continue to enhance and develop our integrated trade, transport, and industrial ecosystem,' said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
