First Abu Dhabi Bank Misr (FABMISR), one of Egypt’s largest banks, has implemented the latest initiative introduced by the Central Bank of Egypt: mortgage finance.
This initiative aims to facilitate property ownership for middle-income individuals. FABMISR now provides mortgage finance with an annual interest rate of up to 8%, decreasing, to meet the needs of a specific customer segment while boosting demand for real estate financing services.
Through this initiative, FABMISR seeks to introduce real estate financing within the first year, catering to the diverse customer landscape in the Egyptian market. With rapid developments in real estate financing, the bank aims to offer unique value-added services.
Mohamed Abbas Fayed, Chief Executive Officer and Managing Director of FABMISR, stated: “We take pride in participating in the mortgage finance initiative introduced by the CBE. This resonates with our global strategy, which focuses on broadening our market reach by catering to various customer segments.”
It’s worth noting that FABMISR is committed to providing an exceptional client experience by offering additional advisory services. The bank also ensures simplified procedures and documentation for customers, contributing to economic growth and stimulating activity in the real estate market.
