Egypt expands mortgage finance scheme with top banks

The deals were signed between the New Urban Communities Authority (NUCA) and Banque Misr, Commercial International Bank (CIB), QNB Alahli–Egypt, and the Arab African International Mortgage Finance Company (AAIMF).

Minister of Housing Sherif El-Sherbiny said the initiative, launched under the directives of President Abdel Fattah El-Sisi and Prime Minister Moustafa Madbouly, forms part of a broader strategy to promote sustainable urban development and strengthen the link between housing, finance, and investment.

“This cooperation represents a strategic shift in Egypt’s mortgage financing tools,” El-Sherbiny said in the statement. “It provides flexible, long-term financing options of up to 20 years, with affordable down payments suitable for different income levels.”

The new framework will allow citizens to purchase ready-to-move residential, administrative, and commercial units developed by NUCA, rather than waiting for construction or delivery stages. It also opens the door for Egyptians abroad and foreign investors to buy property in Egypt under the state’s exporting Egyptian real estate initiative.

Under the protocols, the partnership will focus on three main areas:

• Financing ready units not covered by the Central Bank of Egypt’s (CBE) mortgage initiatives;

• Offering rescheduling options for existing customers;

• Providing resale financing for previously delivered units.

The ministry said the system aims to offer affordable and sustainable home financing, reduce administrative hurdles, and accelerate unit sales to generate fresh liquidity for NUCA’s new city and infrastructure projects.

El-Sherbiny added that the agreements demonstrate financial institutions’ confidence in NUCA’s projects and legal stability, describing the initiative as a “win-win model” for citizens, developers, and lenders.

Bank officials welcomed the move, saying it will revitalise Egypt’s property market, increase access to mortgage financing, and diversify financial institutions’ lending portfolios with stable, asset-backed products. They added that the plan will help boost non-tax state revenues and attract fresh capital into Egypt’s growing real estate and construction sectors — key drivers of employment and economic growth.

The minister said the government plans to sign additional agreements with Egyptian banks in the coming months to further expand mortgage accessibility and align with the country’s “New Republic” vision for inclusive housing and urban development.