Hassan Allam’s firm obtains $55 million Islamic loan for Cairo project

Key Points

• Hassan Allam Holding raised EGP2.8 billion ($55 million) for Bab Masr, a mixed-use development near Cairo’s Upper Egypt railway station.
• The Bab Masr project spans 100,000 square meters, featuring commercial, residential, and medical spaces, with key transport connections in Cairo.
• Hassan Allam Holding expands across MENA, opening offices in Riyadh and growing operations in the UAE, Oman, Libya, and Algeria.

Hassan Allam Holding, a privately owned engineering and construction giant led by Egyptian businessman Hassan Allam, has raised EGP2.8 billion ($55 million) Islamic loan to fund Bab Masr, a green field mixed-use development in Cairo being developed by its wholly owned unit Hassan Allam Construction.

Bab Masr enhances Upper Egypt transport hub

Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt, acted as a financial advisor, lead manager, book-runner, and underwriter for the Musharaka Sukuk. BabMasr, a part of the development surrounding the Upper Egypt railway station, Egypt’s largest, and connected to Cairo Metro’s third line, monorail, and BRT system. National Bank of Egypt, Suez Canal Bank, ADCB, IDB, and SAIB participated as underwriters.

Bab Masr, located in Mohandiseen, is a key part of the development surrounding the Upper Egypt railway station, Egypt’s largest, and connected to Cairo Metro’s third line, monorail, and BRT system. It is being developed by Bab Masr Development, a company fully owned by Hassan Allam Construction. The project spans 100,000 square meters and includes 17 buildings dedicated to commercial, administrative, residential, medical, and garage spaces.

Hassan Allam Holding expands across MENA

Hassan Allam Holding, led by Hassan Allam and his brother Amr Allam, has cemented its position as a privately owned engineering and construction giant in the region, with a portfolio that spans over 12 million square meters of constructed buildings, contributing to economic growth across North Africa and the Middle East.

As part of its ongoing expansion, the company has opened new offices in Riyadh and strengthened operations in the UAE, Oman, Libya, and Algeria. This strategic growth reinforces Hassan Allam Holding’s position as a major player in high-impact industries, further diversifying its portfolio beyond construction into key sectors shaping Egypt’s future.

Hassan Allam joins Egypt’s EV push

Hassan Allam Holding is expanding into renewable energy and collaborating with the Egyptian Ministry of Petroleum and Mineral Resources on a nationwide network of electric vehicle (EV) charging stations.

The partnership between Hassan Allam Utilities, the group’s investment and development arm, and Infinity, Egypt’s largest EV charging provider, aims to expand the country’s charging infrastructure. The plan includes installing both AC and DC chargers at high-traffic filling stations to support EV adoption