EFSA Says EGP34mln Volume of Mortgage Finance in Dec

Big 5

A monthly  report of Egyptian Financial  Supervisory Authority (EFSA) revealed that the volume of the mortgage finance which granted from mortgage finance firms boosted to EGP34 million during the last of December compared to EGP18 million in November of 2012, so the volume of the granted mortgage finance reach up EGP4.2 billion since the activity started and until last December.

The value of re-mortgage during the last December reached about EGP6 million so the total volume of mortgage refinancing granted by the Egyptian Mortgage Refinance company (EMRC) reached to EGP708 million since the beginning of the mortgage sector.

The number of new contracts for investors 50 new contracts during December compared to 24 held by the end of November, bringing the total number of contracts since the beginning of the activity to about 34 thousand contracts.

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