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Mortgage companies provide EGP 1.4bn in 11 months

Mortgage financing granted by mortgage companies from the beginning of the year to the end of November 2017 amounted to EGP 1.4bn, compared to EGP 1bn a year prior, according to the report issued by the Financial Regulatory Authority (FRA) in November. The FRA report said that the increase in the volume of funding amounted …

Daily News Egypt

Egypt to lift home ownership rates

The shortage of affordable residential units has created a surge of illegal construction, with a February report saying that some 500,000 units have been built without government consent over the past three years

Daily News Egypt

The United Bank participates in CBE’s mortgage funding initiative

The United Bank has joined the Central Bank of Egypt in a scheme that aims to boost Egypt’s economy and real estate market by refinancing mortgage customers at discounted prices. According to Reuters, the central bank said Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects. The money will be deposited to banks, …

Daily News Egypt

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