Mint Real Estate Asset Management and Suez Canal Bank Join Forces to Launch Anchors
Mint Real Estate Asset Management and Suez Canal Bank proudly announce the establishment of Anchors Real Estate Investment and Development Company, a pioneering real estate development and investment company.
This strategic partnership seeks to harness the complementary strengths of both organizations to foster growth and innovation in Egypt’s real estate sector.
Under the agreement, Mint Real Estate Asset Management holds a 60% ownership stake, while Suez Canal Bank retains 40%. Together, they aim to deliver integrated real estate solutions, leveraging Mint’s industry expertise and Suez Canal Bank’s robust financial capabilities to seize emerging opportunities and contribute to the sector’s advancement.
“This collaboration positions Mint as a comprehensive real estate solutions provider, offering a full suite of services ranging from acquisition and development to asset management and financing,” stated Alia El Nagdy, CEO of Mint and Anchors. She added, “Anchors is uniquely poised to provide timely financial solutions that drive ambitious real estate ventures, addressing the market’s growing demand for alternative financing options.”.
Anchors, as Mint’s dedicated investment arm, will streamline real estate processes, enabling clients to efficiently achieve their goals while focusing on high-potential projects with strong return prospects.
For Suez Canal Bank, the creation of Anchors signifies a major step in diversifying its non-banking financial services and broadening its revenue base. Akif El-Maghraby, CEO and Managing Director of Suez Canal Bank, emphasized the strategic significance of this venture, stating, “This partnership aligns with our vision to expand into innovative, non-banking financial solutions while delivering greater value to our clients. Anchors will play a pivotal role in driving real estate growth and enhancing our ability to support transformative projects”.
Anchors has already demonstrated its potential, securing a landmark deal worth EGP 500 million with one of Egypt’s leading real estate developers. Speaking on this achievement, El Nagdy remarked, “The 500 million EGP deal reflects Anchors’ ability to address market gaps with innovative solutions, setting the stage for sustained growth.”
El-Maghraby added, “This investment underscores our confidence in the Egyptian real estate sector and our commitment to enabling its long-term expansion”.
With its strong foundation, Anchors is poised to attract regional and international investments by identifying and executing impactful real estate projects that offer exceptional value. As a testament to this commitment, the company will continue to leverage its expertise and resources to deliver innovative, high-return ventures that contribute to Egypt’s dynamic real estate market.
