According to the reports, the Bafana Bafana international and Sundowns have already agreed personal terms but the clubs are yet to agree on the proposed loan move.
Sundowns are said to looking to bring the attacker back to South Africa on loan before making the move permanent at the end of the season.
Mahlambi left Bidvest Wits in 2017 for Al Ahly to become the first South African to play in Egypt.
However, he has found it difficult to get regular game time at the Egyptian giants and has requested the club to release him.
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