Beta Egypt for Urban Development signed a protocol with the Housing and Development Bank (HDB) to provide mortgage finance initiative led by the Central Bank of Egypt (CBE) with interests of 3% and 8% to fund units located at the company\u2019s compounds in October Gardens district and Mostakbal city in New Cairo.
\nThe protocol came in line with the state\u2019s directives to support mortgage finance and meet customer\u2019s needs to find convenient housing.
\nBeta Egypt\u2019s CEO Alaa Fikry and the head of mortgage finance sector at HDB Mohamed Maharek signed the contract.
\nThe protocol allow Beta Egypt\u2019s customers to get mortgage finance for units priced up to EGP 1.4 million with 3% interest and units of over EGP 1.4 million to EGP 2.250 million with 8% interest.
\nMoreover, the protocol has also offered mortgage finance to the overpriced units out of the interest percentages determined by the CBE.
\nFikry said that the protocol came as a part of Beta Egypt keenness to meet the needs of its customers, along with achieving the state\u2019s goals and plans which aim to boost mortgage finance initiative as it contributed in pushing the real estate sector.
\nHe expressed his joy to collaborate with HDB which contributed in making a leap in real estate sector whether through offering loans to projects or cooperation with governmental, private institutions to construct significant projects.
\nHe noted that the protocol states funding all the sold and unsold units in \u201cBeta Greens New Cairo\u201d compound in Mostakbal City alongside with the company\u2019s projects in October Gardens district.
\n\u201cBeta Greens New Cairo\u201d compound spans over 25 feddans with total investment of EGB 1 bn. It comprised from 730 residential units varies between apartments and independent, twin and town family villas. There areas ranged from 90 to 250 m\u00b2. The company is also about to deliver the project\u2019s first and second phases within six months.
\nOn his part, Mohamed Maharek, the head of mortgage finance sector at HDB expressed also his happiness with the new collaboration with Beta Egypt.
\nBeta Egypt had constructed a number of integrated real estate projects in new cities, the Greater Cairo area, Obour city, October Gardens district, where \u201cBeta Gardens\u201d, \u201cGolf Residence\u201d, and \u201cBeta Greens\u201d compounds are located.<\/p>\n","protected":false},"excerpt":{"rendered":"
Beta Egypt for Urban Development signed a protocol with the Housing and Development Bank (HDB) to provide mortgage finance initiative led by the Central Bank of Egypt (CBE) with interests of 3% and 8% to fund units located at the company\u2019s compounds in October Gardens district and Mostakbal city in New Cairo. The protocol came …<\/p>\n","protected":false},"author":2,"featured_media":2821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81],"tags":[985,986],"class_list":["post-2823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-news","tag-beta-egypt","tag-housing-and-development-bank"],"yoast_head":"\n