Metropolitan Consulting Egypt is negotiating with the Egyptian Gulf Bank and Banque Misr to finance Enmaa for Development & Real Estate Investment to implement a number of projects, according to company head Khaled Nagaty.

Enmaa needs financing worth EGP10m in the form of letters of guarantee for tenders, in addition to EGP 10m guaranteed by waiver of the executed operations.

Enmaa has been awarded by the Armed Forces Engineering Authority a project to implement 16 average estate buildings in the New Administrative Capital in Badr City. The total cost of the project is estimated at EGP 70m, said credit sector head at Enmaa, Ahmed Fathy.

Enmaa is a public construction company. It implements a number of projects for the Armed Forces Engineering Authority through tenders put forward by the authority.