Al-Sharif Holding Group, NBE sign long-term financing contract for Shepherd Hotel development project

EGYPT – The Al-Sharif Holding Group, an Engineering, Procurement & Construction Company, and National Bank of Egypt (NBE) have signed a long-term financing contract that will contribute an EGP 978.2 million (US$62.45m) loan to the Shepherd Hotel development project. The loan, which will go towards the projects total cost of EGP 1.4 billion (US$89.38m), comes with an interest rate of 8% and a grace period of 3.5 years. Sharif Nawwaf bin Fayez, CEO and board member of the Al-Sharif Holding Group said that the facilities granted by the NBE are…

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