Al Ahly Sabbour, a leading developer in Egypt’s real estate market, signed a tie-up with CIB – Commercial International Bank to provide the “Green Square” Project in New Cairo with mortgage finance services. Green Square area is 80 acres, located in Mostakbal City with EGP 1.08 bn in investments.
Al-Ahly Sabbour’s CEO Ahmed Sabbour and CIB’s CEO of Retail Banking Ahmed Eissa inked a Tie-Up in the presence of senior officials from both companies.
Ahmed Sabbour said: “through signing this tie-up, we can benefit from the Mortgage Finance initiatives that the Central Bank of Egypt (CBE) has offered. Granting our clients the opportunity to get middle and above-middle housing units; which coincides with Egypt’s 2030 vision.”
Sabbour added, “clients can acquire their housing units with relative ease in Green Square. Our clients deserve a level of luxury, security, and stability at a suitable price. Green Square units are ready to move, thanks to the tie-up between Al Ahly Sabbour and CIB with a long instalment up to 20 years at a low-interest rate as part of the Central Bank initiative for Mortgage Finance.”
On another front, Eissa said “the Egyptian Mortgage Finance initiative has given developers, investors, and financial institutions a new look at the sector’s demands, renovating the Egyptian real estate industry.”
Eissa added “we believe that it is important to find new financial alternatives that meet the ever-changing needs of our clients. As the real estate sector proved to be the main investment option, CIB has collaborated with Al Ahly Sabbour. As the company has 62 different projects under its name over the past 26 years, it always meets its clients’ expectations and gives credibility to its name.”
For those who wish to be a part of Al Ahly Sabbour’s “Green Square”, CIB offers three different payment plans that can reach 20 years instalments. As part of the CBE initiative, the first plan consists of 20% down payment, while the second has an alternative plan that caters to those who aren’t part of the Central Bank initiative. The third plan is suitable for resale purposes for Al Ahly Sabbour existing senior clients.
Al Ahly Sabbour’s “Green Square” is located in the heart of New Cairo with direct access to the Middle Ring Road.
On the site, 1128 units ranging in size from 125 m2 to 265 m2 ranging from Villas, Town Houses, and Duplex Apartments. Al Ahly Sabbour is delighted to announce that 85% of the first phase of Green Square is finished and is ready to move since March of 2021. Al Ahly Sabbour was the first real estate company to develop in Mostakbal City, with the debut of “Green Square”.