Prime Minister Mostafa Madbouli asserted on Sunday that a significant number of citizens are interested in the mortgage system in order to acquire housing units and that benefits citizens and mortgage funding companies.
This came during a meeting with Governor of the Central Bank Hassan Abdullah, Housing Minister Assem el Gazzar, Chairman of the Financial Supervisory Authority Mohamed Farid, CEO of the Social Housing Fund Mai Abdel Hamid and Deputy Governor of the Central Bank of Egypt for regulatory instructions Rana Badawi in which they discussed means of fostering mortgage and exporting real estate, Cabinet Spokesman Nader Saad said.
The prime minister added that the mortgage system will contribute to activating real estate market as well and economy.
The meeting aimed at reviewing a number of measures to activate the mortgage system, Saad noted.
These measures will facilitate the process of mortgage funding in the upcoming period and that will activate and promote real estate sector, he further said.
Source: State Information Service Egypt