Cairo, June 06, 2022: GlobalCorp for Financial Services and Mountain View for Investment and Real Estate Development jointly sign a leasing facility agreement to finance Mountain View with an amount of EGP 450M with a lease tenor of seven years. This agreement comes in the light of supporting the real estate development sector with state of art financial solutions partnering with a key player in the industry such as Mountain View.
This leasing agreement will finance the construction activities of Mountain View for development and real estate investment’s latest projects. The financing is in line to support Mountain View’s growth plans and to maintain its constant presence as one of the top developers in Egypt.
Hatem Samir, Founder, CEO & MD of GlobalCorp, stated: “[We’re glad to support the real estate industry, developers, and projects. It is our belief that the real estate industry is vital in contributing to the strength of the Egyptian economy. We have a long-term partnership with Mountain View for development and real estate investment with substantial milestones achieved together and we look forward to accomplishing more through different upcoming agreements and strategic partnerships to support their business growth. In GlobalCorp, we continue to support this promising sector in terms of providing the tools necessary for financing expansions at various levels. Additionally, we have fostered solid relationships with various sectors in Egypt providing them new with innovative financing solutions”.
Ghada Nour, Group CEO-Investment & Assets management of Mountain View – DMG, stated:
“Mountain View grew significantly over the last couple of years, in terms of sales volume, size of investment, and land bank, becoming one of the top developers in the market. Given this growth, Mountain View is seeking innovative financing solutions to support its investment & growth plans for the coming 5 years. We are pleased to announce the successful closing of a leasing agreement of EGP 450M with GlobalCorp with competitive interest rates. This comes in line with our plans to find competitive financing solutions to expedite the construction workspace for our current projects. Mountain View & GlobalCorp. are long standing partners with whom we look forward to doing business for years to come, as our relationship dates back to 2017 where GlobalCorp has provided previous factoring facilities worth EGP 250M to MV”.
Established in 2015 in Egypt, GlobalCorp is a non-banking financial services company engaged in offering financial and operating leases and factoring solutions to corporates and SMEs. It offers leading, innovative financial solutions including structured/tailored finance, positioning it as one of the largest purely independent non-banking financial services player in Egypt.
About Mountain View
Mountain View for development and real estate investment was launched in 2005. With a vision aspiring to develop integrated communities and spread happiness, Mountain View has become the leading real estate company offering first class project encompassing innovation, distinction and the science of happiness.
Over the past 15 years, the company has renewed its promises and confirmed its continuous dedication in delivering 17 distinctive projects led by a team of thought leaders and qualified experts. As a testament of its fundamental influence in the market, Mountain View’s so-called white and blue houses rejuvenated the market by becoming an icon of modern architecture, symbolizing innovation and uniqueness
Mountain View owns a substantial portfolio of land bank, amounting to 2,225 acres, divided into 3 main districts. West Cairo, represented in “iCity”, “Chill Out Park” and “Mountain View Giza Plateau” projects located in 6th of October, and East Cairo projects, reflected in “iCity”, “Mountain View 1, “Mountain View 2” “Mountain View Hyde Park” and “Mountain View Executive Residence” located in 5th settlement. In addition to the costal projects, overlooking the Red Sea and the Mediterranean; “Mountain View Sokhna” project 1 and 2, and “Mountain View Ras ElHekma” in North Coast.