Cairo – Mubasher: City Edge Developments signed a protocol of cooperation worth EGP 1 billion with the Commercial International Bank - Egypt (CIB) as part of the real estate mortgage initiative launched by the Central Bank of Egypt (CBE).
The partnership is aimed at expanding mortgage services and programmes to facilitate access to affordable housing in line with Egypt Vision 2030, the real estate developer said in a statement on Monday.
Under the CBE’s initiative, mortgage loans with a declining interest rate of 8% are offered with a repayment period of up to 20 years and a minimum down payment of 20%.
