Innovative property investments
Egypt Property Investment News
Egyptian bank taking advantage of property demand
The investment bank Naeem Holding has announced that it will be establishing a mortgage finance company in order to take advantage of the growing demand for Egyptian real estate. As well as the $200 million mortgage company, the Egyptian bank also plans to launch funds of around $300 million to invest in Egyptian and regional real estate markets over the next year.
Mortgage finance companies have recently begun to emerge in Egypt since a change to real estate laws, and the subsequent rise in property demand – largely stemming from the Gulf Arab region – is driving price growth in the country. Naeem’s mortgage finance company is expected to start operating by the end of 2007, and the bank will have a stake of up to 10%.
Changes to the law in Egypt are ongoing, but it is hoped that by the end of 2007 the law will be finalised, and the demand for property is expected to further increase as a result.
One of Egypt’s new laws will allow the purchase of property by funds, as well as listed companies. This is also expected to boost investment levels, since currently the new developments seen in much of Egypt are designed with only the country’s affluent buyers in mind. However, once the new law is in place, more of the population will be able to invest through funds.
According to the managing director of Naeem Holding, Ahmed Naim Badr: “There is a lot of liquidity among small investors who are currently seeking real estate investment opportunities.” With this in mind, Naeem is planning a EGP700 million fund, to invest in Cairo’s Smart Village – an office park located in the suburbs of the city.
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10-20% pa for 12 years
Contracted income
with guaranteed
capital appreciation
Agricultural land
investment operated by
public listed company.
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