In line with Egypt’s strategy to support real estate financing and meet the citizens’ needs, TBK Real Estate Development Company announces the signing of two cooperation agreements with the EBE and Tamweel Mortgage Finance Company.
These steps come with in the company’s framework of constant keenness to meet the needs of customers and support the state’s directions through the initiatives of the Central Bank for real estate financing, which contributed to meeting the customers’ needs and facilitating the purchase of units for those wishing to pay the unit price in installments, and providing payment plans for long periods. With systems that suit all customers’ needs, hence being the first company in the Fifth Settlement to offer distinctive financing solutions from the “90 Avenue” project.
Ali El-Sherbani, chairman of TBK Developments, expresses his great pleasure for this cooperation, explaining that the company seeks to conclude various partnerships for the benefit of its clients, pointing out that TBK seeks to facilitate the customers in owning the housing units they desire in the 90 Avenue project, pointing out that the state supports the real estate development file as well as the urban development file.
El-Sherbani clarifies that the financing agreement with the EBE provides financing plans with an interest rate not exceeding 8%, for periods of time up to 20 years, with easy banking procedures for customers. Also, it targets customers who want to finance over relatively long periods, as it provides payment systems for up to 15 years, with various payment plans to make it easier for them to pay installments.
It is noteworthy that the “90 Avenue” project is located in the heart of the Fifth Settlement in New Cairo, with the units’ number including more than 1,450 housing units, commercial and recreational spaces up to 60k meters, and an administrative spaces area of 25k sqm, in addition to the commercial mall. The 1st phase has been fully delivered. The 2nd phase is being delivered at the beginning of March of this year. The 3rd phase will be delivered in 2023. As for the starting of the commercial and administrative work from July 2023, and the completion of the whole project in 2024.