Real estate industry accounts for 20% of Banque du Caire’s funding

The head of Egypt’s state-owned Banque du Caire said on Tuesday that real estate sector accounts for 15-20 percent of the bank’s total financing.

“We are planning to boost our financing for the real estate sector in the coming period given its importance in supporting the country’s macroeconomic growth and creating various job opportunities,” chairman and chief executive Tarek Fayed said.

Banque du Caire, the third biggest state bank in Egypt, is looking forward to maintaining the sustainable progress of the state’s promising economic sectors, Fayed said.