CBE Expands EGP 100 bn Initiative to Contractors
The Central Bank of Egypt (CBE) has decided to broaden the base of beneficiaries of its EGP 100 bn industry stimulus initiative to include the contracting sector.
Egypt Rolls Out EGP 3 bn Initiative to Support Tourism: Minister
Egypt's Ministry of Finance has agreed to present EGP 3 bn in funding provided by the Central Bank of Egypt (CBE) to state banks for soft loans to tourist and hotel establishments at 5% annual interest, in a bid t ...
MNHD Nods to EGP 150 mn Facility from United Bank
The Board of Directors (BoD) of Madinet Nasr for Housing and Development (MNHD) has approved an EGP 150 mn credit facility extended by the United Bank.
UAE Real Estate Prices Down for 4 Yrs: Central Bank
The UAE's central bank has confirmed that the country’s real estate sector continues to endure a downward trend in the 2018 prices of residential and commercial properties for four consecutive years, owing to the ...
Marakez Gets EGP 395 mn Loan for Mall of Arabia Expansion
Marakez for Real Estate Investment, a subsidiary of Saudi Arabia's Fawaz Alhokair Group, has signed a long-term loan agreement with Emirates NBD Egypt to provide EGP 395 mn worth of funds for Mall of Arabia's new ...
KSA Signs EGP 125 mn Grants to Brace Egyptian SMEs
Egypt's Minister of Investment and International Cooperation Sahar Nasr has inked three EGP 125 mn grants with the Saudi Fund for Development (SDF), in a bid to boost financial leasing for small- and medium-sized ...
ERC Proposes 8-12% Middle-Income Mortgages Interest Rates
The Egyptian Real Estate Council (ERC) has proposed renewing interest rates applied on mortgage financing for would-be middle-income homebuyers to range from 8 to 12%
Mortgage Finance Loans Hit EGP 392.7 mn by End-April
Egypt’s Mortgage Finance Fund (MFF), targeting middle- and low-income citizens, provided loans worth EGP 392.7 mn in April versus EGP 127 mn in the year-ago period, amid a 208% surge in banks' key interest rates
Moody’s Maintains Positive Outlook on Egypt’s Banks
International credit rating agency Moody’s Investors Service has maintained its positive outlook for Egypt’s banking sector, on the back of the country's improving operating conditions.
Egypt’s Foreign Reserves Drop for 1st Time in 2 Years
The Central Bank of Egypt (CBE) has unveiled that the country's foreign currency reserves dropped last December for the first time since the EGP flotation, standing at USD 42.551 bn compared to USD 44.513 bn at th ...
