Baker McKenzie advised Mashareq Real Estate Investment on an EGP 1 Billion Syndicated Loan for the Zag East Development
The Global Law firm, Baker McKenzie Cairo has advised Mashareq Real Estate Investment, a subsidiary of Pioneers Properties for Urban Development (PRE Group), on securing a landmark EGP 1 billion syndicated loan provided by a consortium of lenders led by the National Bank of Egypt (NBE).
The long-term financing facility will support the development of Zag East, a commercial and administrative project strategically located in New Cairo on South Teseen Street, adjacent to key urban landmarks. This transaction underscores Baker McKenzie’s continued commitment to supporting major real estate and infrastructure developments in Egypt and reflects growing market confidence in the sector.
Zag East is designed to feature innovative architecture and a flexible range of unit sizes, catering to the needs of startups, SMEs, and major corporate tenants. The project represents the first phase of a broader urban expansion by PRE Group, aimed at enhancing Cairo’s commercial infrastructure.
Commenting on the transaction, Mostafa Lotayef (Partner, Baker McKenzie Cairo), said,
“We are proud to have advised Mashareq Real Estate Investment on this milestone real estate and financing transaction. The successful closure of the syndicated facility reflects the strength of Egypt’s real estate sector and the confidence of leading financial institutions in its continued growth. Zag East is a transformative project, and we are pleased to support our client in bringing it to life.”
The Baker McKenzie team was led by Mostafa Lotayef (Partner) and Hania El Shazly (Associate), who provided comprehensive legal counsel throughout the structuring and execution of the transaction.
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