El Ahly Real Estate expects 300% growth during 2012

By: Abd El Halim El Gendy and Sherine Taha
Saleh Abdoun, the executive president, revealed the signing of several protocols with El ahly Development Company and Talaat Mostafa group as well as contracting with the low-income mortage fund.

The company started its activity during the last quarter of 2011, with 162 million pounds paid up, 500 million pounds as source and 5 billion authorized capitals.

Abdoun pointed out that the company intends to contract with the social fund for development especially that the fund owns 5,000 units and the company has the ability to finance around 2,000 units, where the unit of the value reaches fifty thousand pounds, with a total amount of LE 100 million and an interest that rates 14-15%.