Al Tameer Real Estate Finance: We expect the number of beneficiaries of real estate financing initiatives to increase fivefold

Wael Salam 16 Jun 2022

Al Tameer Real Estate Finance: We expect the number of beneficiaries of real estate financing initiatives to increase fivefold

Ayman Abdel Hamid, Managing Director of Al-Tameer Real Estate Finance Company, said that easy financing mechanisms must be found to achieve green construction and encourage companies to follow sustainable development standards in their projects, adding that the company has started negotiations with several banks to provide financing for projects that adopt these standards and has adopted a global approach. Egypt should be keen to implement it during its new urban projects.

During the second session of the first "Al-Masry Al-Youm" economic forum, held today, Thursday in Cairo, entitled "Egyptian Urbanism and its New Message Towards Implementing Sustainable Communities", Abdel Hamid added that the coming period will witness a major boom in real estate financing in light of the historical initiative launched with a value of 100 billion. EGP, pointing out that the number of beneficiaries is expected to multiply 5 times over what has been achieved since its launch 8 years ago, bringing the number to 6 million beneficiaries.

The managing director of the company explained that the initiatives launched by the Central Bank contributed to attracting a larger number of customers and providing long-term financing for low- and middle-income people.

It is noteworthy that the activities of the "Al-Masry Al-Youm Economic Forum" were launched today, under the title "Influential Investment and Enhancing the Role of the Private Sector in Development", with the participation of the Ministers of Finance, the Public Business Sector, Immigration and the Affairs of Egyptians Abroad.

The forum’s activities come under the slogan “Towards a new balance between money and social goals.” The sessions will witness the participation of Dr. Mahmoud Mohieldin, Executive Director of the International Monetary Fund, as well as high-level public figures, a number of former ministers, executive leaders, symbols of the business community, experts and thinkers.

Source: Al-Masry Al-Youm