Rawasy for Urban Development S.A.E acquired real estate assets in Madinaty compound from Talaat Mostafa Group Holding Company TMG Holding (S.A.E) (CASE:TMGH) for approximately EGP 9 billion on June 21, 2021. Additionally, Rawasy entered into a long term operation and investment agreement with Talaat Mostafa Group for the operation and investment of these assets on behalf of Rawasy with a guaranteed return. The transaction was financed by loan divided into two tranches. The first tranche of loan was from Banque Misr, Al Ahly Bank and Banque Du Caire to finance the purchase of assets from Talaat Mostafa Group related to the Craft Zone Project in Madinaty. The second part of the loan was in the form of a discounting facility against checks from Nour City owned by Talaat Mostafa Group. The aggregate amount of both tranches is approximately EGP 9 billion. Mohamed Ghannam, Lamyaa Gadelhak, Mostafa Lotayef and Mohamed Hafez of Helmy, Hamza & Partners, Baker McKenzie Cairo acted as the legal advisors to Rawasy for Urban Development S.A.E. Rawasy for Urban Development S.A.E completed the acquisition of real estate assets in Madinaty compound from Talaat Mostafa Group Holding Company TMG Holding (S.A.E) (CASE:TMGH) on June 21, 2021.