Under the real estate financing initiative by CBE, El Batal Group for Housing and Development announces offering units in its projects in the Fifth Settlement and Sixth October City for various segments at an interest rate of 3% and 8%, Invest -Gate reports.
El Batal Group CEO Emad Doss confirms that this step comes within the framework of the company’s constant keenness to meet the needs of customers and support the directions of the state.
Additionally, Doss points out that the initiatives of the Central Bank of Egypt (CBE) for real estate financing have contributed greatly to meeting the needs of a wide segment of clients in the past years; and that the new presidential initiative will achieve a revival in the real estate sector during the next stage.
Moreover, he clarifies that El Batal Group offers 600 fully finished units under the initiative, located in the “Rock Eden” compound in the Sixth of October and the “Rock Vera” compound in the Fifth Settlement. The units’ spaces range from 160 to 175 sqm. Besides, the price per square meter ranges from EGP 8500 to EGP 9500.
He further points out that the customer will pay a 20% down payment and will get a real estate financing of up to 30 years.
In a parallel context, Doss elaborates that the company had offered these units for the first time to its clients during the Cityscape exhibition last September, in which El Batal Group participated in a variety of projects with unprecedented facilities and offers.
It is worth noting that El Batal Group has more than 40 years of experience in the real estate industry in the Canadian and Egyptian markets, and its investments in the Egyptian market exceed EGP 11 bn.