Paragon Developments has announced that it is in advanced negotiations with a leading Egyptian state-owned bank to secure a sustainability-linked loan (Green Finance) valued at EGP 400 million.
Strategic Funding for Sustainable Growth
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The loan is designed to provide the necessary liquidity for the company’s ongoing and upcoming projects, ensuring all developments align with sustainable construction standards and the green economy framework.
Expansion of the “Adeer International – Paragon” Alliance
On the strategic front, the Adeer International – Paragon alliance is currently evaluating a suite of new investment opportunities within the Egyptian market. This is coupled with an ambitious international expansion plan targeting markets in Dubai, Oman, and several European cities.
Eng. Bedir Rizq, CEO of Paragon Developments, stated that the alliance prioritizes locations that allow for the implementation of smart development standards. He noted that the alliance’s flagship project is “The Boulevard” in Mostakbal City, developed in partnership with “MIDAR.” Spanning 500,000 square meters, the project involves total investments of approximately EGP 70 billion, split equally (50/50) between residential and administrative/service uses.
Future Projects and Sales Targets
As part of its expansion strategy in East Cairo, Paragon plans to launch two new projects with total investments reaching EGP 53 billion. The first project covers 60 acres with initial investments of EGP 50 billion. The company aims to achieve total sales of approximately EGP 70 billion from these two ventures.
Regional Strategy: The Saudi Market (Vision 2030)
Paragon has outlined a comprehensive roadmap for the Saudi Arabian market, aiming to execute six projects by 2030 with a total built-up area of 360,000 square meters, covering administrative, commercial, and hospitality sectors. The company’s targets in the Kingdom include:
Managing 200,000 sqm of administrative space by 2027, increasing to 500,000 sqm by 2030.
Overseeing the asset management of 140,000 sqm of real estate to enhance operational efficiency.
It is worth noting that Paragon Developments has recently joined the index of the Top 10 Egyptian Real Estate Companies in terms of sales volume recorded over the past nine months, according to latest market performance reports.
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