PARAGON Developments announced that it has entered into advanced negotiations with one of Egypt’s banks to secure EGP 400 million in green financing, as part of its strategy to accelerate sustainable growth and support its current and future developments. The move aligns with Egypt’s national direction toward a green economy and sustainable urban development.
The company stated that the ongoing negotiations involve obtaining financing from the Green Fund through a government-owned bank, aimed at supporting PARAGON’s plans to implement advanced environmental sustainability standards and enhance the operational efficiency of its projects. This step reflects the company’s commitment to maximizing the positive environmental impact of its developments while ensuring long-term economic viability.
In parallel, PARAGON Developments announced that its PARAGON.2 Financial District project in the New Administrative Capital has been awarded LEED Gold certification under the LEED v4 BD+C: Core & Shell rating system, issued by the U.S. Green Building Council (USGBC). The achievement underscores PARAGON’s adherence to the highest international benchmarks for sustainable and responsible design.
PARAGON.2 achieved 67 points out of a possible 110, qualifying it for the Gold rating, based on its strong performance across key sustainability categories, including energy efficiency, water conservation, urban integration, and indoor environmental quality. These features contribute to improved operational efficiency and reduced environmental impact throughout the building’s lifecycle.
The project also demonstrated strong results in site selection and transportation criteria, offering easy access to public transportation, encouraging sustainable mobility, and reducing carbon emissions, factors that support healthier, more productive work environments.
Commenting on the announcement, Bedeir Rizk, CEO of PARAGON Developments, said: “We are currently engaged in advanced negotiations with a government-owned bank to secure EGP 400 million in financing from the Green Fund, which is expected to be among the first green financing models directed toward real estate developments in Egypt. This step supports our strategy to integrate sustainability into every aspect of our business and link environmental responsibility with long-term economic value.”
He added: “The LEED Gold certification awarded to PARAGON.2 reflects our commitment to developing workspaces that create real, measurable impact. Sustainability is a core pillar of the value we deliver to our clients and communities. This achievement builds on PARAGON No.1’s LEED Silver certification and the advancement of PARAGON No.3 to the final review stage for green space ratios, ensuring that all PARAGON projects meet the highest sustainability standards.”
In the same context, the company announced the signing of the contract for PARAGON 1 to obtain LEED Silver certification, reinforcing PARAGON’s dedication to applying best-in-class sustainability practices across its portfolio in the New Administrative Capital. The contract was signed at the headquarters of the Administrative Capital for Urban Development, in the presence of senior representatives from both parties.
These milestones come as part of PARAGON’s overarching vision, “Regeneration, by Design,” which focuses on developing future-ready, mixed-use environments that integrate sustainability, technology, and human-centric design, responding to the evolving expectations of investors, occupiers, and institutions for environmentally responsible real estate.
The LEED rating system, developed by the U.S. Green Building Council, is one of the most widely adopted green building certification frameworks globally, providing a comprehensive assessment of a building’s environmental performance, including energy and water efficiency, indoor environmental quality, and innovation in design.
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