2021-02-15

A circular dated February 15, 2021 amending some controls and rules of bank financing for real estate development companies

The Central Bank's Board of Directors has decided to amend the decision regarding the funding controls and regulations for real estate development companies constructing residential units for sale. The amendments include changes to the first and third articles of the decision, emphasizing the need for a detailed timeline for construction completion and allowing funding for joint projects between real estate developers and government or private entities. Additionally, a new clause has been added, permitting banks to finance land installments for their clients who have obtained existing credit facilities from real estate development companies.

Egypt

Central Bank of Egypt

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