Signing a cooperation protocol between the Social Housing and Real Estate Finance Support Fund and aiBANK

The Social Housing Fund and Real Estate Finance Support signed a cooperation protocol with aiBANK to increase the volume of cooperation and finance a larger number of applicants for the fund’s advertisements. Mai Abdel Hamid, CEO of the Social Housing Fund and Real Estate Finance Support, and Tamer Seif El-Din, CEO and Managing Director of aiBANK, signed it.

After the signing, Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, stated that the signing of the protocol comes within the framework of the Fund’s continuous desire to provide various financing solutions to citizens wishing to obtain their housing units, as the number of financing agencies with which the Fund cooperates has reached 31 banks.

cooperation protocol

The new cooperation protocol with aiBANK comes within the framework of the decisions of the Council of Ministers and the Central Bank regulating real estate financing activity, including the income limits of the customer from all sources of his income, which is that the maximum income of low-income citizens is 6000 pounds per month for a single individual, and 8000 pounds per month for a family. As for middle-income citizens, the maximum is 13,000 pounds per month for a single individual and 18,000 pounds per month for a family.

This protocol comes to provide financing estimated at 800 million pounds for low- and middle-income groups, in line with the Central Bank of Egypt’s initiative to stimulate and encourage banks to expand in the field of real estate financing and direct them to pay attention to low- and middle-income people.

Social Housing and Real Estate

The CEO of the Social Housing and Real Estate Finance Support Fund confirmed that aiBANK is an important partner for the fund in the field of real estate financing, as the bank provides real estate financing to low- and middle-income citizens applying for housing units within the fund's projects.

Social housing for the 15th of May

 In related context, The Media Center of the Council of Ministers published an infographic on its official page on the social networking site Facebook, through which it shed light on the establishment of the social housing project for May 15th City.

The media center of the Council of Ministers added that the social housing for the 15th of May city is one of the distinguished housing projects established by the state, with the aim of providing multiple housing and service units, and providing adequate housing for citizens, as well as job opportunities.

The media center of the Council of Ministers confirmed that the social housing project for May 15th City, the project consists of 13,920 housing units, to provide housing for 42,660 people.

The Social Housing Fund has delivered a number of previously announced social housing apartments, and it is scheduled to open the reservation of social housing apartments 2023 for the 18th advertisement by the end of this year or during the first month of 2024.