Egyptian real estate developer Marakez has secured a 3 billion Egyptian pounds ($63.3 million) financing facility from Kuwait Finance House – Egypt (KFH-Egypt) to expand the commercial component of its 200-acre District 5 mixed-use development in New Cairo, the company said.

The funding will be used to expand the Mindhaus Campus, which is currently fully leased, adding about 17,000 square metres (sqm) of gross leasable area (GLA) of premium office space to meet rising demand from corporate tenants.

Marakez said the new phase is designed exclusively for leasing and targets companies seeking integrated work environments within District 5, which combines office, retail, banking, dining and lifestyle amenities.

Demand for space at Mindhaus has been strong, with the campus reaching full occupancy and a waiting list now in place for prospective tenants, reflecting sustained appetite for high-quality, flexible office space within mixed-use destinations.

(1 US Dollar = 47.42 Egyptian Pounds)

(Writing by Eman Hamed & Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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