Banque du Caire inaugurates its new central department in the field of real estate finance

Banque du Caire inaugurated its new central department specialized in real estate finance, affiliated to the bank, which includes all sections and departments concerned with the real estate finance process under one roof.

Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, expressed her happiness with the opening of this new unit, which is a strong addition to the real estate financing system, which benefits customers and ensures the provision of distinguished service to them.

Banque du Caire

Mai Abdel Hamid added that Banque du Caire is an active contributor to the real estate financing process in Egypt, as it was one of the first supporters of the real estate financing project for low and middle-income people since its inception, and is considered one of the leading banks in providing real estate financing to citizens wishing to benefit from the fund’s projects, and the Social Housing Fund succeeded. Supporting real estate finance in shifting from cooperating with only 4 banks at the beginning of the project, including Banque du Caire, to cooperating with 31 banks and real estate finance companies currently.

Mai Abdel Hamid indicated that the Social Housing and Real Estate Finance Support Fund seeks to increase cooperation with the banking sector during the coming period with regard to real estate financing activity, especially with the high demand of low- and middle-income citizens on the advertisements offered by the fund.

 The Chairman and CEO of Banque du Caire, Tarek Fayed, stated that the opening of the new real estate finance department aims to increase the volume of the real estate finance portfolio and acquire a larger market share, indicating that the volume of the portfolio amounted to 4.1 billion pounds within the initiative, as the number of beneficiaries reached about 40,000. client.

 Fayed added that the bank's new real estate finance department aims to facilitate the procedures for granting loans to customers within the framework of the real estate finance initiative, and to reach all segments of society.

New real estate financing

He also indicated that the bank is in the process of launching new real estate financing programs outside the initiative in the near future, which in turn will contribute to increasing the chances of obtaining suitable housing for many segments of society.

 The real estate financing initiative contributes to increasing the demand for purchasing housing units, which is reflected in the growth of the contracting and construction sector, due to its role in operating many intermediate industries, especially as it will work to attract a larger base of customers benefiting from the initiatives offered by the Central Bank.