Beltone Leasing and Factoring has recently inked a significant deal with IL Cazar for Urban Development, a real estate developer in Egypt.
The agreement, valued at EGP400 million (£6.74m), comprises a sale and leaseback arrangement alongside a factoring facility.
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The signing ceremony, attended by Beltone Leasing and Factoring CEO Amir Ghannam, IL Cazar Chairman Nader Khozam, IL Cazar Vice Chairman Fady Nassif, and other senior officials from both entities, marks a milestone in financing the construction of the Creek Town project.
Mr. Ghannam expressed satisfaction with the partnership, highlighting Beltone’s commitment to selecting clients meticulously and prioritising portfolio quality. He lauded IL Cazar’s stature in Egypt’s real estate sector, noting their rapid rise and strategic vision.
The agreement, he stated, represents the beginning of a broader collaboration aimed at leveraging Beltone Group’s financial expertise to offer a spectrum of services, including investment banking, mortgage products, and consumer finance solutions.
Chairman Khozam echoed Ghannam’s sentiments, describing the agreement as a strategic move in IL Cazar’s growth journey. Recognising Beltone’s reputation for innovative financial solutions, Khozam emphasised the partnership’s significance beyond conventional financing.
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