Chairman of IL Cazar Developments, Nader Khozam, notes that the company continues to direct more investments into the project's construction, despite challenges imposed by high prices of building materials and high construction costs.
CIB acts as the exclusive financial advisor, issuance manager, general arranger, promoter, and co-underwriter of the transaction.
The company is planning to launch a series of real estate projects in East and West Cairo.
Director of Halifax Mortgages, Kim Kinnaird, notes that the impact of the economic environment on the housing market will continue.
The chairman praises the fruitful cooperation with officials at the New Urban Communities Authority (NUCA) and the 6th of October City Development Authority in the implementation of the project.
The group reiterates that it focuses on providing its customers with more untraditional services, including mortgage finance that complies with Islamic Sharia's provisions and principles.
Talaat Moustafa Group (TMG) successfully adds considerable achievements to Madinaty City during 2022, including organizing international sports tournaments and the inauguration of shopping malls.
The new mall is located in New Cairo’s Golden Square area and features various cafes, restaurants, and childcare areas, alongside shops of sweets, accessories, flowers, perfumes, eyeglasses, and clothes.
The People's Bank of China states earlier this month that the floor on mortgage rates can be lowered or abolished for first-time home buyers in phases, in the case of cities where the selling prices of new homes fall on a monthly or yearly basis for three consecutive months.
The first phase of the mega city comprises 272 condominiums and 240 townhouses. It will be offered for sale on January 19th.
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