Zulficar & Partners Law Firm

After more than a year of intensive work, we are pleased to have advised and represented Qalaa Holdings (the “Company”) on the successful completion of an innovative, highly complex, and tailor‑made capital increase amounting to EGP 12,032,320,000. This landmark transaction originated from the Company’s outstanding foreign debt obligations under its syndicated loan, whereby the Company’s Ordinary General Meeting in 2024 resolved to implement a pioneering structure. The process required meticulous coordination with multiple regulators and institutions — including the Economic Performance Department of the General Authority for Investment and Free Zones (GAFI), the Financial Regulatory Authority (FRA), Misr for Central Clearing, Depository and Registry (MCDR), and the Egyptian Exchange (EGX) — and took over a year to finalize. This distinctive capital increase represents the largest ever executed by Zulficar & Partners, and one of the most significant in the history of the Egyptian Exchange and the Egyptian market at large. The Z&P team was led by Mr. Anwar Zeidan – Founding Partner and Head of the Capital Markets Group, alongside Amr Meselhy – Senior Associate, with valuable contributions from Mr. Khaled Hammad – Partner, and Mohamad Ramadan – Associate. Congratulations to all relevant stakeholders on bringing this landmark transaction to fruition. This achievement stands as a testament to Zulficar & Partners’ market‑leading expertise in structuring and executing precedent capital markets transactions.

Zulficar & Partners co-hosted with Shahid Law Firm – the “Arbitration: Catalyst for Regional Growth and Industry Collaboration”, held on Thursday, 16 October 2025, in Cairo, as part of Egypt Arbitration Days. With over 120 participants and 10 speakers, the event brought together leading voices in arbitration and industry to explore how arbitration can drive regional development and foster cross-sector collaboration. We were honored to open the day with remarks from Prof. Dr. Mohamed Abdel Wahab C.Arb, FCIArb and Girgis Abd El-Shahid, followed by a compelling keynote address delivered by H.E. Counselor Mahmoud Fawzy. The program featured two panels: - Opportunities, Challenges, and Innovation: Egypt as a Regional Arbitration Hub - Arbitration in Practice: Practical Strategies for Industry Leaders and Counsel A heartfelt thank you to all the speakers for their insights and contributions: Alexandra Munoz, Prof. Dr. Nayla Comair-Obeid, Patrick Taylor, Natasha Shirazi, Meriam Nazih Alrashid, Fairouz Hussein, Dr. Mona Zulficar, Brandon Malone, Aarta Alkarimi, C.Arb, FCIArb (Arb and Med), and Sofia Perelygina. #EgyptArbitrationDays #Arbitration #DisputeResolution #ZulficarAndPartners #ShahidLawFirm #EAD #Oct25 #Cairo

We are happy to share that Zulficar & Partners has been honored at The Law's Finest Awards 2025 ceremony at the majestic El Qubba Presidential Palace! 🌟 Our firm shines with Law Firm of the Year – Corporate, a testament to our unwavering commitment to excellence in legal innovation and client success. We also proudly congratulate our stars who received the following awards: Hall of Fame for Dr. Mona Zulficar, Hall of Fame and Lawyers' Advocate for Prof. Dr. Mohamed Abdel Wahab C.Arb, FCIArb, and Rising Star (Private Practice) for Karim Ramsis – your brilliance inspires us all! A huge thank you to THE LAW for this recognition. Grateful to our incredible team, loyal clients, and the entire legal community that made these victories possible. Here's to more milestones ahead! #TheLawsFinest #LegalExcellence

Zulficar & Partners (“Z&P”) is proud to have advised Egyptians For Healthcare services S.A.E. on the innovative, complex and tailor-made structuring, negotiation, documentation and issuance of the Sustainability-Linked Musharaka Sukuk for EGP 2.4 billion issued by Al Ahly Sukuk, to finance development of part of the first phase of its pioneering state of art, smart and fully integrated medical city “CapitalMed” or “CAPMED” in Badr City, across from the New Administrative Capital. CAPMED will provide the Egyptian healthcare sector with world class medical services, through 14 specialized centers, and a remote medical consultation service, in addition to more than 4000 beds, 700 intensive care units and 70 operating rooms, serving more than 5 million patients annually. Upon completion, CAPMED will employ more than 25,000 healthcare professionals and will also include non-medical facilities serving patients and visitors, such as a hotel, a shopping mall, and transportation services to attract medical tourism.   This landmark transaction sets a significant precedent, as the first Sustainability-Linked Musharka Sukuk issuance, and the first innovative and complex tailor-made structure for a Sukuk issue to finance a green-field healthcare project in the market, signaling that Sukuk may be issued for project finance of green field projects. Finally, this issuance is a historic first for the healthcare sector.  All the foregoing makes this transaction a true testament to the continuing innovation, growth and development of the debt capital market in Egypt.   Z&P team was lead by Anwar Zeidan Founding Partner and Head of Capital Markets & Corporate Procedures Group, and Tamima Yehia Counsel, Banking and Finance Group, and included Moustafa Amin Senior Associate, Abdel Rahman Fathy, Mariam Mutawaa, Youmna Ahmed Hagar, Nahla Elkholy, Emad Dyaa El-Din, Mohamed Fouda, and Sara Ibrahim, Associates. Special mention and sincere thanks go to Mr. Ashraf Ihab, distinguished legal expert, for his valuable support and contribution during the earlier phases of this transaction.    Z&P wishes to congratulate Egyptians for Healthcare Services S.A.E. on the successful closing of this issuance, as well as all the parties who participated in this landmark transaction for their dedicated collaborative efforts and valuable contributions. Z&P worked alongside Al Ahly Pharos - الأهلي فاروس Investment Banking, which acted as financial advisor, lead manager, book-runner, and underwriter together with National Bank of Egypt (NBE), Suez Canal Bank and Al Baraka Bank Egypt. National Bank of Egypt also acted as the Placement Agent, Suez Canal Bank acted as the Payment Agent, Baker Tilly Hilal & Abdel Ghaffar acted as transaction auditors, Middle East for Credit Rating and Investors Service (“Meris”) acted credit rating agency for the issue, EMEND acted as transaction independent engineer, and RSM Egypt - Consulting | FPO acted as transaction independent financial advisor.

We are delighted to share that Zulficar & Partners Law Firm has been shortlisted for THE LAW’s Finest Awards 2025 in the following categories: - Law Firm of the Year - Regional Law Firm of the Year - Recognition of Legal Excellence - Anwar Zeidan - Distinguished Partner - Mariam El Masry - Rising Star (Private Practice) - Reem Abu Zahra - Rising Star (Private Practice) - Karim Ramsis We would like to extend our appreciation to our clients, peers and The LAW team for this recognition, and we are looking forward to the upcoming award ceremony.

We are immensely proud to announce that Zulficar & Partners Law Firm has been shortlisted for 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐚𝐰 𝐅𝐢𝐫𝐦 𝐨𝐟 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫 – 𝐄𝐠𝐲𝐩𝐭 at the IFLR Middle East Awards 2025! This prestigious recognition highlights our dedication to legal excellence and innovation in cross-border transactions, reinforcing our position as a leading force in Egypt’s legal landscape. We are also thrilled to celebrate Ingy Badawy, our Head of Corporate and M&A, for her well-deserved shortlisting as 𝐄𝐠𝐲𝐩𝐭 𝐋𝐚𝐰𝐲𝐞𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫. Her expertise and leadership continue to drive transformative deals and set benchmarks in the industry. Additionally, we are honored to be recognized for our role, alongside Pinsent Masons and Sharkawy & Sarhan, in the groundbreaking 𝐀𝐫𝐚𝐛 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐁𝐨𝐧𝐝, shortlisted for 𝐃𝐞𝐛𝐭 𝐚𝐧𝐝 𝐄𝐪𝐮𝐢𝐭𝐲-𝐋𝐢𝐧𝐤𝐞𝐝 𝐃𝐞𝐚𝐥 𝐨𝐟 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫. Thank you to our clients, partners, and exceptional team for their trust and collaboration. We look forward to celebrating the region’s legal achievements at the awards ceremony in Dubai on October 22, 2025!

We are pleased to announce that Rana El-Nahal is rejoining Zulficar & Partners as a Partner. Rana returns to the firm, where she has been a valued member of our Corporate M&A Group. She shares: "𝐼’𝑚 𝑜𝑣𝑒𝑟𝑗𝑜𝑦𝑒𝑑 𝑡𝑜 𝑏𝑒 𝑏𝑎𝑐𝑘 𝑎𝑡 𝑍𝑢𝑙𝑓𝑖𝑐𝑎𝑟 & 𝑃𝑎𝑟𝑡𝑛𝑒𝑟𝑠, 𝑤𝑜𝑟𝑘𝑖𝑛𝑔 𝑎𝑙𝑜𝑛𝑔𝑠𝑖𝑑𝑒 𝑠𝑢𝑐ℎ 𝑟𝑒𝑚𝑎𝑟𝑘𝑎𝑏𝑙𝑒 𝑎𝑛𝑑 𝑑𝑒𝑑𝑖𝑐𝑎𝑡𝑒𝑑 𝑝𝑟𝑜𝑓𝑒𝑠𝑠𝑖𝑜𝑛𝑎𝑙𝑠, 𝑖𝑡’𝑠 𝑎 𝑡𝑟𝑢𝑙𝑦 𝑢𝑛𝑖𝑞𝑢𝑒 𝑒𝑛𝑣𝑖𝑟𝑜𝑛𝑚𝑒𝑛𝑡 𝑡ℎ𝑎𝑡 𝑝𝑟𝑜𝑚𝑜𝑡𝑒𝑠 𝑝𝑟𝑜𝑓𝑒𝑠𝑠𝑖𝑜𝑛𝑎𝑙 𝑑𝑒𝑣𝑒𝑙𝑜𝑝𝑚𝑒𝑛𝑡 𝑎𝑛𝑑 𝑖𝑛𝑠𝑝𝑖𝑟𝑒𝑠 𝑒𝑥𝑐𝑒𝑙𝑙𝑒𝑛𝑐𝑒." We welcome Rana back and look forward to achieving great results for our clients together.

🚀 𝐃𝐞𝐚𝐥 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 | 𝐋𝐚𝐧𝐝𝐦𝐚𝐫𝐤 𝐌𝐞𝐫𝐠𝐞𝐫 𝐢𝐧 𝐄𝐠𝐲𝐩𝐭’𝐬 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐒𝐞𝐜𝐭𝐨𝐫 We are proud to have acted as 𝐥𝐞𝐠𝐚𝐥 𝐚𝐝𝐯𝐢𝐬𝐨𝐫 𝐭𝐨 𝐒𝐢𝐱𝐭𝐡 𝐨𝐟 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐟𝐨𝐫 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 (𝐒𝐎𝐃𝐈𝐂) on the successful completion of its 𝐦𝐞𝐫𝐠𝐞𝐫 𝐰𝐢𝐭𝐡 𝐬𝐞𝐯𝐞𝐧 𝐬𝐮𝐛𝐬𝐢𝐝𝐢𝐚𝐫𝐢𝐞𝐬 — a transaction that stands out in scale and complexity in the Egyptian market. 💡 𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: • 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐛𝐨𝐨𝐬𝐭: SODIC’s issued and paid-up capital increased from 𝐄𝐆𝐏 𝟏.𝟐𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 to 𝐄𝐆𝐏 𝟓.𝟏𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧. • 𝐂𝐨𝐦𝐩𝐥𝐞𝐱 𝐞𝐱𝐞𝐜𝐮𝐭𝐢𝐨𝐧: Seven subsidiaries merged into one of Egypt’s largest real estate developers, listed on the EGX. • 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: Public company procedures, multiple subsidiaries, and execution at 𝐛𝐨𝐨𝐤 𝐯𝐚𝐥𝐮𝐞 despite the presence of free float shares. This transaction marks a 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐦𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞 for SODIC, reflecting its continued growth and leadership in the market. The deal was led by Anwar Zeidan, Founding Partner and Head of Capital Markets Group, with invaluable contributions from Mr. Khaled Hamad, Partner, Nahla Elkholy and Youmna Ahmed Hagar, Associates in the M&A and Capital Markets Groups. 👏 Congratulations to all parties involved in making this transaction a success! #MergersAndAcquisitions #CapitalMarkets #Egypt #RealEstate #LawFirm #DealAnnouncement #EGX #CorporateLaw 

Zulficar & Partners (“Z&P”) wishes to congratulate Orange Egypt for Telecommunications (“Orange Egypt”) on the successful closing of a Syndicated Medium Term Facility Agreement for around US$ 80 million to finance acquisition of its 5G license from the National Telecommunications Regulatory Authority financed by EBRD, Banque Misr, and Banque Misr UAE Dubai Branch.   Z&P is proud to have advised Orange Egypt on the transaction, alongside Addleshaw Goddard Middle East – Lenders’ international legal counsel, and Baker McKenzie Cairo - Helmy, Hamza & Partners – Lenders’ Egyptian law legal counsel. Z&P wishes to congratulate all parties for their dedicated collaboration and valuable contribution leading to the successful closing of the transaction.   The transaction underscores international confidence in Egypt’s economy. The network upgrade financed by the facility is expected to cut CO2 emissions by over 1.7 million tonnes per year. The upgrade further supports sustainable growth of Orange Egypt as a leading mobile telecommunications provider, as well as supporting Egypt’s digital infrastructure, enhancing services in education, healthcare and smart cities, and driving Egypt’s digital economy forward.   Z&P team was lead by Tamima Yehia, Counsel, Banking and Finance, and included, Hana El Beltagi, Associate, Banking and Finance.