CBE, Govt in talks with real estate developers on mortgage finance initiative

CAIRO - 10 February 2020: Housing Minister Essam el Gazar and Deputy Governor of the Central Bank of Egypt Gamal Negm met with a group of real estate developers to clarify the terms of the initiative launched by the government and CBE for mortgage financing domain.

The minister said he listened to suggestions by the real estate developers as regards the initiative.

Negm said the initiative is ready to be applied and necessary instructions were sent to banks across Egypt.

Only ready-to-move-in units will be included in the initiative to avoid any risk, he added.