Al Ahly Deals With MFF To Finance 2000 Housing Units
Al Ahly Mortgage Finance Company signed a deal with the Mortgage Finance Fund (MFF) over financing about 2000 housing units for low-income people, out of the 10,000 housing units allocated by New Urban Communities Authority for the fund.
Al Ahly Mortgage Finance Company received many requests from asking wishing to buy such units in order to benefit from the subsidy offered by the fund, said Ismail Abdoun, CEO of the company. These housing units are located in many regions such as Al-Sherouk, 6th of October and Obour cities.
The company’s portfolio of mortgage finance stood at EGP 240 million at the end of last September and it is expected to largely grow amid expectations of a flourishing future for mortgage market buoyed by the settlement agreements conducted between the government and a number of investors to help them resume their projects in Egypt.
