Cairo for Investment and Real Estate Development to offer EGP 600 Million Sukuk Al-Mudarabah

Egypt’s Cairo for Investment and Real Estate Development (CIRA) will be offering EGP 600 million worth of Sukuk Al-Mudarabah in December 2020, according to local media reports. EFG Hermes has been appointed as the issuance manager of the Sukuk.

Local media reported that CIRA is completing the offering documents with Egypt’s Financial Regulatory Authority, and aims to complete the offering before the end of 2020 in order to finance its expansion in the education field.

According to local media reports, CIRA’s offering will be Egypt’s third Sukuk issuance during 2020. The first Sukuk issuance was initiated by Talaat Moustafa Group at the start of 2020 and was v...