Arab Finance: Next Bank announced the signing of a cooperation protocol with the Urban Development Fund, an Egyptian public economic body that focuses on developing projects in the capitals and governorates of the Republic, to preserve areas with a distinctive character. Under this protocol, real estate financing solutions will be provided to customers from various segments who wish to purchase housing units belonging to the Fund within its existing projects in various governorates of Egypt.
The signing of this protocol comes within the framework of Next Bank’s commitment to align its efforts with the initiatives of the Central Bank of Egypt for middle-income real estate financing, as well as free real estate financing to meet the needs of various segments of society. Through this agreement, the bank aims to provide long-term financing solutions with easy terms, competitive interest rates, and financing amounts of up to To 15 million pounds to facilitate customers’ access to housing units with the easiest and fastest procedures.
In this context, Tamer Seif, CEO and Managing Director of Next Bank, expressed his happiness at signing a cooperation protocol with the Urban Development Fund, which reflects the bank’s firm commitment to promoting sustainable development and financial inclusion initiatives by providing a package of innovative financing solutions that meet various customer needs. Saif pointed out the bank’s keenness to enable customers from different income brackets to own housing units within the fund’s projects by providing them with appropriate financing solutions. Saif also explained that the bank is looking forward, through this initiative, to continuing the pivotal role it plays in supporting the real estate financing sector because of its positive impact in improving the quality of life of customers and supporting the national economy.
Engineer Khaled Siddiq, Chairman of the Board of Directors of the Urban Development Fund, also expressed his happiness at signing this protocol, which will contribute to supporting the real estate sector and contribute to achieving sustainable economic growth, stressing the Fund’s keenness to make more real estate units available in the various governorates of the Republic in a way that achieves integrated and sustainable development. Siddiq confirmed that the fund provides fully finished housing units through the urban development project for the provincial capitals and major cities, providing suitable housing at affordable prices and in distinctive locations within the main cities.
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