Cairo - Mubasher: Qatar National Bank (QNB) has signed a medium-term financing agreement worth EGP 5.50 billion with MARAKEZ, one of Egypt’s mixed-use developers.
The funding will support the expansion of the 268-acre District 5 project in East Cairo, according to a press release.
The CEO of QNB, Mohamed Bedeir, stated: “This partnership underscores QNB Egypt’s commitment to empowering leading players in the Egyptian market through tailored financing solutions aligned with international best practices.”
“By supporting the delivery of large-scale developments, particularly in the real estate sector, we contribute to accelerating economic activity, creating job opportunities and value across connected industries,” the CEO added.
The agreement aligns with QNB’s strategy to finance large-scale real estate developments and support the growth of Egypt’s urban expansion plans, in line with national efforts to develop new communities and promote sustainable economic growth.
From his side, the Executive Vice Chairman of MARAKEZ, Ahmed Demerdash Badrawi, stated: "This financing marks an important milestone for District 5 and our wider portfolio.”
“It enhances our capital efficiency, accelerates project timelines, and reinforces our focus on delivering high-quality mixed-use developments that are ahead of schedule," Badrawi emphasized.
District 5 is positioned as a key mixed-use development in East Cairo, offering a combination of housing, retail, and entertainment components within a single destination.
During the first quarter (Q1) of 2026, QNB registered consolidated net profits after tax worth EGP 9.52 billion, compared with EGP 7.18 billion in Q1-25.
