Inertia Real Estate is negotiating with local banks to borrow 7 billion poundsVisits : 106

Inertia Real Estate is negotiating with local banks to borrow 7 billion pounds

The newspaper reported that Inertia Real Estate Development Company is negotiating with several local banks to obtain an Islamic financing worth 7 billion pounds to meet the financial needs of the companys projects.

Sources indicated that “Inertia” had previously approached Banque Misr to obtain a loan of 5 billion pounds aimed at restructuring debts owed by it to the banks, in addition to contributing part of the investment cost of the “Jefaira” project in the North Coast, but the high prices of raw materials and various building inputs led to The increase in the investment cost, which prompted the company to ask the banks to increase the value of the loan.

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