Al Oula Ink Cooperation Protocol with Hyde Park, 2 Leading Firms

Big 5

Egypt-based Tameer Mortgage Company – Al Oula signed today a cooperation protocol with 3 additional Egyptian developers on the sidelines of the Cityscape Real Estate Summit.

Al Oula signed the protocol on Monday with Hyde Park Properties for Development (HPD), Arabia Group for Real Estate & Tourism Investment, and Tameer for Real Estate Investment.

The protocol entailed the financing of up to 80% of built residential, commercial and retail units, where Al Oula would 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.

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