Arabia Group for Real Estate & Tourism Investment S.A.E. and Tameer Mortgage Company – Al Oula signed a cooperation protocol on the sidelines of the Cityscape Real Estate Summit.
The protocol entailed financing Arabia’s housing units, and villas, where Al Oula provide clients with loans to finance their properties. The mortgage loan would cover remaining payments on clients’ units including delivery payments, with the option of lending the cost of finishing core and shell units as well. Payment terms could be extended up to ten years.
In this respect, Hassan Hussein, Chairman and Managing Director of El-Taamir Mortgage Finance Co – Al-Oula, said his firm will entail financing housing units of Arabia’s Moon Valley 2 Project, comprising 124 villas ‘Twin House’. Al Oula will provide clients with loans to finance their properties.
Tameer Mortgage (Al-Oula), incorporated in 2003 is the first and leading mortgage finance company to be established in Egypt, created in 2003, and contribute to the capital of thirteen Foundation of the largest institutions real estate, banking and insurance, Egypt, authorized capital by $ 500 million pounds (five hundred million Egyptian pounds) and paid an amount of 400 million pounds (four hundred million Egyptian pounds).