Sky Abu Dhabi Developments, the real estate arm of the Diamond Group, signs cooperation protocol with the First Abu Dhabi Bank to provide facilities for financing housing units through various payment methods, Invest-Gate reports.

This comes within the framework of First Abu Dhabi Bank and Sky AD Developments to support the housing system and the real estate sector in Egypt and provide the best opportunities for real estate financing to its clients.

Clients will be able to obtain financing of up to 85% of the price of the various types of ready-to-move primary units with the simplest possible procedures at a competitive interest rate and with a maximum of EGP 15 mn to be repaid within a period of up to 15 years.

This cooperation also allows clients wishing to make finishes to benefit from financing of up to 40% of the price of the units that were delivered.

Eng. Abdul Rahman Ajami, CEO of Diamond Group and Sky AD Developments, says that the real estate sector in Egypt is characterized by high demand and purchasing desire, and at the same time there are units that need different financing methods to suit this demand, so this cooperation is considered as a link between the purchasing power and the price of the housing unit.

Mustafa Salah, CEO of the commercial sector of Sky AD Developments, confirms that the contract with First Abu Dhabi Bank contributes to providing payment systems suitable for various segments, with the aim of making it easier for current and future customers of the company to obtain the units they are looking for with the best systems.

Sky AD transfers its real estate expertise to Egypt and intends to pump investments worth EGP 15 bn within two years. The implementation of its first projects in Egypt began in the New Administrative Capital with investments amounting to EGP 4 bn.