Egypt’s Mortgage Fund Studying Establishment Of Units In Red Sea

Mortgage Support and Guarantee Fund (MSGF) is currently studying the cooperation with Red Sea governorate and building new units in the governorate.

Mai Abdel Hamid, Chairman of the Mortgage Finance Fund & MSGF Manager, said the main strategy of the fund is to expand in the governorates and distant cities, which is being in South Sinai, Sohag, pointing out that the preliminary approval which will be obtained from the Ministry of Housing will give the right for financing these buildings of its own budgets.

Abdel Hamid, added that the current security and political unrest experienced by the country  will not prevent the fund from the continuation to search for new lands in various governorates as a prelude for construction with the availability of financing of fund along with lacking the established units, so this way grant providing units for low-income citizens.

She added that the governorate is checking now the lands which able to establish on it which identified quickly within the coming phase, especially the fund is ready to build once these lands will be selected.