Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Egypt
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-11-29
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Al Ismaelia For Real Estate Investment S.A.E.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Amount (USD): $ 8.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EGP 145,000,000.00
Converted using 2016-11-29 exchange rate.
Project Cost (USD): $ 23.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported EGP 433,600,000.00
Converted using 2016-11-29 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-05-09
Disclosure Date: 2016-11-24
DFF SME - Downtown Cairo Regeneration
EBRD-47961

Project Description
The EBRD is providing a senior loan to Al Ismaelia For Real Estate Investment S.A.E., a joint stock company registered in Egypt, to finance the refurbishment of a number of buildings located in Downtown Cairo. According to bank documents, the loan will finance the refurbishment and commercialization of a number of historic buildings owned by the Company and located in Downtown Cairo and supporting the regeneration and revitalization efforts in the area.
Investment Description
AL ISMAELIA FOR REAL ESTATE INVESTMENT S.A.E. is a real estate development company established to acquire and renovate historic buildings in Downtown Cairo. The Company is owned by a number of Egyptian and Middle Eastern investors and is managed by BPE Partners (Formerly Beltone Private Equity).
Contact Information
Mr. Karim El Badrawy kbadrawy@bpepartners.com 00201006882949 http://al-ismaelia.com/ ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.