Crédit Agricole Egypt partners with Rock Developments to introduce mortgage solutions
Cairo: Crédit Agricole Egypt has signed a cooperation agreement with Rock Developments to introduce mortgage solutions. This agreement will allow Rock Developments clients to have access to the bank's long-term mortgage financing solutions (down payment of 20% and financing up to 80% of the unit's value, with payment terms up to 15 years).
The cooperation agreement was signed by Ms. Nevine Shokry, Head of Proximity Banking of Crédit Agricole Egypt and Eng. Daniel Doss, Board Member of Rock Developments, along with the presence of several representatives from both entities.
Ms. Nevine Shokry, Head of Proximity Banking of Crédit Agricole Egypt stated 'We are delighted to partner with Rock Developments to offer long term mortgage solutions that empower more Egyptians to own their homes. This collaboration highlights Crédit Agricole Egypt's customer centricity approach, delivering innovative, accessible and sustainable financial solutions that are tailored to our clients evolving needs. By combining our banking expertise with Rock Development sustainable vision, we are supporting the growth of Egypt real state while contributing to a greener, more inclusive future'.
Eng. Daniel Doss, Board Member of Rock Developments emphasized that 'This agreement offers exclusive financing solutions for the company's clients through mortgage solutions. Residential units are available with a 20% down payment and financing up to 80% of the unit's value, with payment terms up to 15 years. Meanwhile, commercial and administrative units come with a 25% down payment and financing of up to 75% of the unit's value for the same duration'.
Eng. Doss affirmed that Rock Developments is committed to innovation, offering diverse strategies to serve its clients by delivering projects that align with their aspirations while providing advantages that support their purchasing decisions.
He added that 'Collaborating with Crédit Agricole Egypt, a partnership that emphasizes sustainability, represents a key milestone in our journey towards responsible growth'
Rock Developments is a leading real estate company with over 40 years of experience. Its projects span across Greater Cairo, Egypt, offering residential, commercial, and administrative projects, as well as several commercial projects in Canada. Rock developments will launch a sustainable certification project located in the New Capital City.
Crédit Agricole Egypt and Rock Developments are committed to boosting real estate investment by expanding financing options and ensuring secure investment opportunities. Their mission is to foster growth in Egypt's dynamic property market by supporting projects built to global standards and introducing innovative solutions for sustainable development, safeguarding the environment for future generations.
This collaboration is part of Crédit Agricole Egypt's strategy, which aims to provide diverse opportunities and facilities for its clients, with a focus on offering flexible mortgage solutions that support their housing and investment plans. It reflects the bank's role in supporting the Egyptian economy, enhancing financial inclusion, and contributing to sustainable development.
It is worth mentioning that Crédit Agricole Egypt has signed an agreement with the European Bank for Reconstruction and Development (EBRD) for a loan worth USD 20 million to lend to individuals and small businesses under the Green Economy Financing Facility (GEFF II), the second phase of Egypt's regional green economy financing program.
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