Beltone Leasing and Factoring, a subsidiary of Beltone Financial Holding, has entered into a sale and leaseback agreement with Al Ahly Sabbour Developments, a leading real estate developer in Egypt. The deal involves the transfer of real estate assets worth EGP 1.2bn from Al Ahly Sabbour to Beltone Leasing and Factoring, who will then lease them back to the former for a specified period.
The agreement will be executed in two phases. The first phase will involve a payment of EGP 600m from Beltone Leasing and Factoring to Al Ahly Sabbour. The second phase will be arranged through a syndication of Beltone Leasing and Factoring and other financial institutions.
The deal aims to provide Al Ahly Sabbour with flexible financing options to support its business growth and expansion plans in Egypt and Saudi Arabia. It also reflects Beltone Leasing and Factoring’s commitment to offering innovative and customized financing solutions to its clients in various sectors, especially the real estate development industry.
