Egypt’s relatively new mortgage finance industry has taken off in the past couple of years. From just 16 EGP Million in July 2005, outstanding mortgage loans had risen to more than 3.6 EGP Billion in June 2009.

Mortgage finance is considered to be one of the important means to finance investments in the real estate sector, through the purchase, construction, finishing and restoration of residential units, offices and commercial buildings. It is a long term contract which can be extended to 30 years and within which the property is the main collateral. 

Egypt currently has a fully functional mortgage market that is adequately regulated. The role of all market stakeholders has been activated. On the lending side, 10 mortgage finance companies and a mortgage refinancing company have been established and currently operational in the market. 

Despite the progress achieved in getting the mortgage finance system up and running, the Ministry of Investment is still working on developing the market further in cooperation with the other ministries and stakeholders...Read more