Hassan Allam Holding is proud to announce that YANMU Logistics Park has signed a financing agreement with the Commercial International Bank (CIB Egypt), securing EGP 1.5 Billion for the construction of YANMU East Logistics Park.
YANMU Logistics Park marks the first collaborative venture between HAU Logistics (a recently established logistics-focused investment platform between Hassan Allam Utilities and A.P. Moller Capital) and Agility Global in establishing cutting-edge logistics parks and Grade A warehouses in Egypt.
The ten-year loan tenure from CIB will cover part of the project’s construction and development costs. Strategically located East of the Ring Road, the logistics park spans a total gross leasable area of 161,237 square meters.
Amr Allam, Co-CEO of Hassan Allam Holding, said, “We are proud of our longstanding partnership with CIB, which has been instrumental in driving the expansion of our strategic projects. The latest addition to our portfolio, YANMU East, is set to play a pivotal role and mark a momentous milestone in Egypt’s thriving logistics sector.”
Amr El-Ganainy, CIB’s Institutional Banking CEO, added, “This partnership accentuates our deep-rooted business relationship with Hassan Allam Group and we are confident that this partnership, along with the presence of Agility & A.P. Moller Capital, will have a noticeable contribution to the Egyptian market. CIB is honored to continue its pioneering developmental role in financing strategic projects with substantial importance to the Egyptian Economy”.
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