Beltone Holding, one of the fastest-growing financial institutions, announces that its wholly owned subsidiary, Beltone Leasing and Factoring, has signed the first syndicated factoring deal in Egypt worth EGP925 million for Redcon Properties.  

The main aim of this agreement is to provide vital financial support to Redcon Properties, the real estate development arm of Redcon Group. Beltone Leasing and Factoring has joined forces with several leading factoring companies, contributing EGP512.5 million to the total deal, including Cairo Leasing Corporation, Enmaa Finance Company, Misr Finance for Financial Services, and AUR Leasing. Beltone Leasing and Factoring covered EGP412.5 million. Banque Misr acted as the escrow bank. Together, we’re empowering growth and supporting the real estate development sector.