Banque du Caire has signed a medium-term financing agreement worth EGP 750m with Hyde Park Developments to support the construction of “Garden Residence,” part of the developer’s Phase 22 project in New Cairo. The loan will contribute to the total investment cost of EGP 2.4bn, accelerating development progress and reinforcing the bank’s role as a key financial partner in Egypt’s real estate sector.
The signing ceremony was attended by Bahaa El-Shafie and Hesham Abdel Aal, Deputy CEOs of Banque du Caire, along with senior executives. Representing Hyde Park Developments were Chairman Hassan Ghanem—who also serves as CEO and Managing Director of Housing and Development Bank (HDB)—Managing Director Amin Serag, and other company representatives.
Bahaa El-Shafie emphasized the strategic importance of the agreement, noting its role in boosting economic growth and generating job opportunities across the real estate supply chain. He underscored Banque du Caire’s commitment to supporting leading developers in shaping Egypt’s housing infrastructure and addressing growing market demand.
Hassan Ghanem highlighted the banking sector’s confidence in Hyde Park Developments, positioning the company as a key player in Egypt’s real estate market. He reaffirmed Hyde Park’s ability to execute large-scale expansion plans while delivering high-quality, integrated residential communities.
Amin Serag described the agreement as a significant milestone in completing Hyde Park New Cairo—one of the city’s most ambitious real estate projects. He emphasized the development’s vision of providing a sustainable, fully integrated community that meets the expectations of modern homeowners. The eight-year financing term, he added, ensures financial flexibility, enabling the company to uphold quality and efficiency standards while advancing project execution.
Spanning 6 million square meters in New Cairo’s Fifth Settlement, Hyde Park New Cairo is one of Egypt’s largest residential developments, featuring 20,000 units and total investments exceeding EGP 160bn. The project offers a diverse range of villas and apartments, catering to various buyer segments. To date, more than 5,000 units have been delivered, demonstrating steady progress in its execution.
