The value of mortgage provided by Egyptian companies surged 57% year-on-year in 2018, chairman Of the Egyptian Union For Real Estate Nagy Fahmy said in a statement.

Egyptian companies provided EGP 2.2 billion in mortgage last year, compared to EGP 1.4 billion in 2017, Fahmy added
The top official noted that the decline in the cost of mortgage will increase the demand on real estate finance solutions, in addition to its role in development.

Rapid changes in the Egyptian market, which affect the real estate market, prove the urgent need for more comprehensive and flexible mortgage systems, Fahmy said.

-Mubasher