Saudi Arabia: EFG Hermes Corp-Solutions, a leading leasing and factoring company in Egypt has signed a sale and leaseback agreement with leading real estate development firm Misr Italia Properties (MIP) for refinancing its state of the art property-Garden 8 Mall, amounting to 750 million pounds ($47.7 million).

Garden 8 Mall represents approximately 47,000 m2 in New Cairo accommodating premium brands for both retail space and restaurants in New Cairo, the company said in a statement.

EFG Hermes Corp-Solutions was established in 2020 under EFG Hermes’ Non-Bank Financial Institutions (NBFI) platform to consolidate its factoring and leasing businesses and provide large corporates as well as small and medium-sized enterprises (SMEs) with leverage to grow and expand their businesses.

Misr Italia Properties is Egypt's leading real estate developer and is expanding across the country with a variety of unique projects.