#housing unit
The Central Bank of Egypt (CBE) launched on Tuesday 13 July an EGP 100 billion mortgage finance initiative targeting low and middle-income citizens. In its official circular, the CBE stated that the new initiative gives low and middle-income individuals the ability to receive loans from banks and mortgage companies with a low interest rate of three percent and a 30-year repayment period to purchase fully finished housing units. The initiative explains that units for low-income people must not exceed EGP…
