Latest news with #SocialHousingandMortgageFinanceFund
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Banks inject EGP 82.1bn into low-income mortgage initiative until April 2025
The Social Housing and Mortgage Finance Fund (SHMFF) has announced that banks and mortgage finance companies have disbursed a total of EGP 84.64bn to approximately 630,015 low-income beneficiaries under the government-backed mortgage finance initiative as of the end of April 2025. According to the Fund's latest report, 22 participating banks injected around EGP 82.128bn, benefiting 610,201 clients, which accounts for 97% of total disbursements under the initiative. The National Bank of Egypt (NBE) topped the list, providing EGP 20.396bn in financing to 159,522 clients, representing 24.1% of total funding. Banque Misr followed with EGP 19.390bn in loans to 146,347 clients (22.9%), while Banque du Caire came in third with EGP 9.123bn extended to 61,094 clients (10.8%). Housing and Development Bank ranked fourth, disbursing EGP 7.920bn to 76,081 clients (9.4%). QNB Alahli followed in fifth place with EGP 5.802bn granted to 32,665 clients (6.9%). In sixth place, the Commercial International Bank (CIB) provided EGP 5.006bn to 30,606 clients, capturing 5.9% of the market share. It was followed by the United Bank with EGP 2.188bn to 15,236 clients (2.6%), and the Industrial Development Bank with EGP 2.028bn to 17,929 clients (2.4%). Bank NXT ranked ninth with EGP 1.787bn in loans to 10,269 clients (2.1%), while the Arab African International Bank rounded out the top ten with EGP 1.409bn provided to 11,056 clients, representing 1.7% of total disbursements. In parallel, eight mortgage finance companies disbursed a combined EGP 2.514bn to approximately 19,814 clients, accounting for 3% of the initiative's overall funding. Al-Tameer Mortgage Finance Company led the sector with EGP 991.9m extended to 7,429 clients, followed by Contact Mortgage, which disbursed EGP 838.7m to 6,167 clients. Al Ahly Mortgage Finance (AMF) came in third with EGP 285.2m to 2,543 clients, trailed by Amlak Finance Egypt with EGP 252.9m granted to 2,328 clients. The list continues with Tamweel Mortgage Finance (EGP 69.5m to 609 clients), Egyptian Housing Finance Company (EGP 43m to 429 clients), Ahli United Mortgage Finance (EGP 20m to 200 clients), and Arab African International Mortgage Finance (EGP 12.2m to 109 clients).
Egypt Independent
17-03-2025
- Politics
- Egypt Independent
PM inspects units of 'Housing for all Egyptians' initiative
Prime Minister Moustafa Madbouly on Saturday 15/3/2025 inspected housing units of 'Housing for All Egyptians' presidential initiative that targets low and limited-income segments, as part of his tour of the 10th of Ramadan city. The premier is accompanied by Minister of Housing, Utilities and Urban Communities Sherif Sherbiny and officials of the Housing Ministry. Madbouly inspected a 90-square-meter housing unit (social housing) in the East Andalus district of 10th of Ramadan City, which is constructed under the presidential initiative 'Housing for All Egyptians'. As many as 125 buildings are being implemented in East Andalus district of 10th of Ramadan City, within the framework of presidential initiative 'Housing for All Egyptians', with a total of 3,000 housing units, the housing minister said, adding that all the 125 buildings have been handed over with finalized facilities. Meanwhile, CEO of Social Housing and Mortgage Finance Fund Mai Abdel Hamid reviewed the implementation rate of social housing units in 10th of Ramadan City, noting that the total number of housing units up to the sixth phase stood at 81,736, of which 67,288 housing units have been implemented, and 14,448 housing units are under reconstruction. The housing minister briefed Madbouly on the project's components that has a total of 82 buildings, adding that 68 buildings are still under reconstruction.
Egypt Independent
16-03-2025
- Business
- Egypt Independent
Egypt, Mexico discuss boosting parliamentary, cultural, economic coop.
Prime Minister Mostafa Madbouly on Saturday 15/3/2025 handed over housing contracts to beneficiaries of the 'Housing for All Egyptians' initiative during a visit to 10th of Ramadan City. He was accompanied by Sherif al-Sherbiny, Minister of Housing, Utilities, and Urban Communities and a number of the ministry's officials. For her part, Mai Abdel Hamid, Chairperson of the Social Housing and Mortgage Finance Fund, said that 1.2 million housing units have been offered, with 722,000 completed, including 553,000 in new cities and 169,000 in governorates. An additional 280,000 units are under construction, including 216,000 social housing units and 64,000 green housing units. The latest phase, 'Housing for All Egyptians 5,' saw record demand, with 762,000 application booklets sold and 561,000 applications processed. Applicants will receive status updates by March 18, 2025. In 10th of Ramadan City, 81,736 social housing units have been built; with 67,288 completed and 14,448 under construction. The city has 65,136 allocated units and 67,288 available for new applicants. For middle-income housing, 1,632 units have been developed; with 1,056 completed and 576 under construction. Meanwhile, 10,740 green housing units are being built in the city's latest development phases.
Middle East
15-03-2025
- Business
- Middle East
OPEN// PM hands over contracts of new housing units to low, middle income families
CAIRO, March 15 (MENA) – Prime Minister Mostafa Madbouli handed over housing contracts to beneficiaries of the "Housing for All Egyptians" initiative during a visit to 10th of Ramadan City. He was accompanied by Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities and a number of the ministry's officials. For her part, Mai Abdel Hamid, Chairperson of the Social Housing and Mortgage Finance Fund, said that 1.2 million housing units have been offered, with 722,000 completed, including 553,000 in new cities and 169,000 in governorates. An additional 280,000 units are under construction, including 216,000 social housing units and 64,000 green housing units. The latest phase, "Housing for All Egyptians 5," saw record demand, with 762,000 application booklets sold and 561,000 applications processed. Applicants will receive status updates by March 18, 2025. In 10th of Ramadan City, 81,736 social housing units have been built; with 67,288 completed and 14,448 under construction. The city has 65,136 allocated units and 67,288 available for new applicants. For middle-income housing, 1,632 units have been developed; with 1,056 completed and 576 under construction. Meanwhile, 10,740 green housing units are being built in the city's latest development phases. (MENA) H A T/M N E
Daily News Egypt
09-03-2025
- Business
- Daily News Egypt
22 banks offer EGP 79.2bn in mortgage financing, supporting 599,512 low-income clients as of February 2025
The Social Housing and Mortgage Finance Fund (SHMFF) revealed that 22 banks participating in the low-income mortgage finance initiative have contributed a total of EGP 79.2bn to the programme. This financing has supported approximately 599,512 clients, representing 96.9% of the initiative's total beneficiaries. In parallel, eight mortgage companies provided EGP 2.5bn in financing for 19,815 clients, which accounts for the remaining 3.1% of the initiative. The National Bank of Egypt (NBE) leads the contributors, having provided EGP 19.9bn in financing to 157,572 clients. This represents 24.4% of the total financing distributed through the initiative. Banque Misr follows closely behind with EGP 18.9bn allocated to 144,070 clients, amounting to a 23.1% share. Banque du Caire ranks third with a contribution of EGP 8.3bn for 58,655 clients, holding a 10.2% share. Other notable contributors include the Housing and Development Bank (HDB), which financed EGP 7.8bn for 75,776 clients, representing 9.6% of the initiative, and QNB Alahli, which allocated EGP 5.5bn to 31,513 clients, accounting for 6.7% of the total. The Commercial International Bank (CIB) contributed EGP 4.7bn to 29,754 clients, amounting to a 5.8% share. United Bank and the Industrial Development Bank (IDB) followed with contributions of EGP 2.1bn to 14,987 clients (2.6%) and EGP 2.0bn to 17,849 clients (2.5%), respectively. Next Bank financed EGP 1.7bn for 9,850 clients, making up 2% of the total. The Arab African International Bank (AAIB) supported 10,908 clients with EGP 1.4bn, representing a 1.7% share. The report also highlighted the efforts of mortgage companies participating in the initiative. Al-Tameer Mortgage Finance led this segment, granting EGP 991.9m in loans to 7,429 clients. Contact Mortgage Finance ranked second with EGP 838.7m allocated to 6,167 clients. Al Ahly Mortgage Finance secured third place with a portfolio of EGP 285.2m benefiting 2,543 clients. Additional contributions came from Amlak Mortgage Finance, which provided EGP 253.1m in financing to 2,329 clients, and Tamweel Mortgage Finance, which financed EGP 69.5m for 609 clients. The Egyptian Housing Finance Company (EHFC) supported 429 clients with loans worth EGP 43.0m. Ahli United financed EGP 20.0m for 200 clients, while the Arab African International Company contributed EGP 12.2m to 109 clients.
