Regulatory Alerts2021-10-04
Added · Updated
Circular dated October 4, 2021 regarding amending the real estate financing initiative for middle-income people at a return rate of 8%
The Central Bank of Egypt amends the real estate financing initiative for middle-income borrowers by increasing the maximum unit price to 2.5 million Egyptian pounds, removing the 150-square-meter net area cap, and extending the maximum financing term to 25 years. The circular also updates the collateral requirements to accept specific guarantees under Housing and Urban Development Ministerial Decrees No. 100 of 2014 and No. 146 of 2021, and revises the attachment detailing the compensation calculation ratios for early repayment or unit sale.